Solid earnings growth forecast to improve market sentiments

Bargain hunting activities propped the FBM KLCI to above the 1,615 level predominantly led by renewed interests in Plantation stocks.

“We believe there are still legs for these stocks as the CPO futures are racing towards the RM5,000/tonne level.

Earnings growth forecast

“As we enter into the earnings season, we reckon sentiment should improve underpinned by the solid 15.4% earnings growth forecast for CY24 thus expect the index to chart within the 1,610-1,620 range today,” says Rakuten Trade.

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