CIMB: FBMKLCI may hit 1,610 by end-2011

Malaysia’s benchmark stock index (FBMKLCI) may rise to 1,610 by the end of 2011, CIMB Investment Bank Bhd said, which raised its target from 1,520, buoyed by the government’s efforts to boost investment and spur economic growth.

Construction and property stocks are the “big” winners from the government’s economic transformation program, Terence Wong, an analyst at CIMB, said in a report today. - Bloomberg