AffinHwang Capital raises end-2017 KLCI target to 1,813

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KUALA LUMPUR (June 5): AffinHwang Capital Research said it  believes the Malaysian stock market is still in its early-stage rally.

In a strategy note today, the research house said the world economy, including developed markets, is growing on an even keel, global trade is rebounding, Malaysia's GDP is strong, the Ringgit is strengthening, capital outflows are reversing, and commodity prices are rebounding.

“Hence, recent market talk of profit taking is positive, in our view, as it makes the uptrend more sustainable.

“We remain Positive on Malaysia with a new KLCI target of 1,813 (from 1,799) by end-2017,” it said.