MIDF Forecasts Bullish Market, Cautions on Global Risks Ahead

local institutions, bursa eipo, buying interests, malaysia market, cpo futures, sentiment, market sentiment, blackrock, feds, Bursa's gains, market trends, profit-taking, bursa malaysia, API Gateway, market sentiment, ringgit appreciates, Malaysian stocks, Bursa's strong Q1 performance, Vitrox, investor confidence, bullish market, political activist, stock market, FBM KLCI, flat, foreign funds bursa — Bullish market but caution is advised on potential risks with the looming threat of a US recession and geopolitical tensions while "Investors tread cautiously"

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MIDF Forecasts Bullish Market, Cautions on Global Risks Ahead

Posted on March 28, 2024March 28, 2024 by Staff Writer

Amidst global bullish sentiment, MIDF analysts foresee a positive trajectory for Malaysia’s equity market in 2024.

“We foresee a situation whereby the world’s equity market would remain generally bullish principally due to the possible onset of US Fed interest rate cuts and buttressed by resilient macro/earnings growth,” they state.

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However, caution is advised due to potential risks such as the looming threat of a US recession and geopolitical tensions in Ukraine and Palestine. “Investors should tread cautiously,” warned MIDF analysts.

MIDF maintains its FBM KLCI 2024 target at 1,665 points, FBM Hijrah at 13,450 points, and FBM70 at 16,890 points. “Our targets are pegged at PER of 14.6x, 20.6x, and 17.2x respectively,” affirmed MIDF.

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