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Tuesday, 17 October 2017

MIDF concern over #Geopolitical-issues #Price-retracements does not signify a change in the larger trend.


Malaysia: MIDF Research has introduced end 2018 FTSE Bursa Malaysia KLCI target of 1,900, higher than this year's target of 1,830.
The research house expects the market to see an uptrend next year albeit the concern over geopolitical issues, underpinned by continuous earnings expansion this year and next year.
"We reckoned that the expected volatilities in reaction to the slew of geopolitical news will provide an opportunity for investors to pick up value stocks with good earnings potential or generous dividend yield over price retracements, caused by overreaction from negative market sentiment," it said in a note.
Although there are concerns over potential capital flight, MIDF Research believes it will not result in major downward movement in the market.
"We believe fundamentals data eventually will find its way to convince investors that there is still value in investing in our market," it said.
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