Money managers positive on equity market

PETALING JAYA: The prospects of weaker economic growth in the second half of the year (2H23), which could impact earnings and valuations on the local equity market, and global headwinds have not deterred money managers from being positive on its prospects.

As the final quarter looms, investor sentiment has turned “risk off” on global markets after major central banks like the Federal Reserve (Fed) and the European Central Bank warn of higher rates for longer.