What is most telling is the sharp increase in the FBM KLCI forecast with the market now looking at a year-end level of 1,704 points, against just 1,618 points three months ago.
BASED on past trends, the quarterly performance of corporate Malaysia in any first-quarter period is usually the weakest as analyst forecasts are typically well ahead of reality.
At the last quarterly result three months ago, consensus already had high expectations for earnings growth this year with the market expecting a multi-year high earnings growth of 14.1% year-on-year (y-o-y) for 2024.
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