Bullish market but caution is advised on potential risks with the looming threat of a US recession and geopolitical tensions while "Investors tread cautiously"
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.
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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