Rakuten Trade sees foreign funds making u-turn back to Asian markets

Rakuten Trade head of research Kenny Yee

KUALA LUMPUR: Rakuten Trade Sdn Bhd expects foreign funds to make a U-turn back to Asian markets going forward, particularly emerging markets including Malaysia due to low stock valuations, a cheap ringgit and heightened volatility in the United States and Europe.

Its head of research Kenny Yee Shen Pin said the FBM KLCI is expected to touch 1,630 points, based on a 15.5 times price-earning (PE) ratio while the ringgit would hit RM4.20-RM4.10 versus the US dollar by the end of the year.