KL stocks expected to rally in Q2: CIMB
CIMB Investment Bank Bhd's senior analyst Nigel Foo Chek Keng said the local market had its own cycle and was not affected by the events.
After peaking in January and a period of consolidation thereafter, the bourse would likely bottom out by end of this month, he said.
"The market discounts everything six months to one year ahead.
"At the peak of the economy, the market starts to grow and at the worse of economy, the market starts to rally," he told reporters after delivering a talk on "Market Outlook for Second Quarter 2011 and Beyond" at the Bursa Malaysia's Market Chat 2010/11 in Kuala Lumpur today.
Going forward, Foo said buying interest would continue to focus on rubber glove, timber and oil and gas stocks.
He said this year's FTSE Bursa Malaysia KLCI target was 1,700 points.
Market Chat 2010/11 is part of a retail investment programme by Bursa Malaysia to encourage greater retail participation in the capital market. -- Bernama
After peaking in January and a period of consolidation thereafter, the bourse would likely bottom out by end of this month, he said.
"At the peak of the economy, the market starts to grow and at the worse of economy, the market starts to rally," he told reporters after delivering a talk on "Market Outlook for Second Quarter 2011 and Beyond" at the Bursa Malaysia's Market Chat 2010/11 in Kuala Lumpur today.
Going forward, Foo said buying interest would continue to focus on rubber glove, timber and oil and gas stocks.
He said this year's FTSE Bursa Malaysia KLCI target was 1,700 points.
Market Chat 2010/11 is part of a retail investment programme by Bursa Malaysia to encourage greater retail participation in the capital market. -- Bernama
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