Reforms headed in the right direction

Rakuten Trade's Lau said the market’s momentum is expected to persist with support from China.

PETALING JAYA: A resilient US economy and expectations of rate cuts by its Federal Reserve (Fed), China’s gradual economic recovery, plus the implementation of fiscal reforms locally, will continue to drive sentiment of the local equity market.

Tradeview Capital Sdn Bhd portfolio manager Ng Tzyy Loon is projecting a high single-digit to a low double-digit earnings growth for local corporations in the next 12 months. However, he said there are limited catalysts in the market contributing to the current trend of range-bound trading and sell-offs in certain sectors.