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Strategy: CIMB Research: Stock market sell-off this week an opportunity to accumulate positions on weakness.
by Cals Fri 23 Aug 2013, 09:29
Strategy: CIMB Research: Stock market sell-off this week an opportunity to accumulate positions on weakness.
Business & Markets 2013
Written by theedgemalaysia.com
Friday, 23 August 2013 09:23
KUALA LUMPUR (Aug 23): CIMB Research has maintained its end end-2013 KLCI target of 1,850 points and said that although Malaysia faces several macro headwinds that need to be addressed, the research house was are still Positive on Malaysia in the longer term and view the stock market's sell-off this week as an opportunity to accumulate positions on weakness.
In a strategy note Friday, CIMB Research said regional markets had come under selling pressure this week and Malaysia had not been spared.
It said that companies with high foreign shareholding were more susceptible to the selldown as foreign ownership wass still at a relatively elevated level.
“The re-rating catalysts include a return to stability for regional markets and potential government policies to assuage macro concerns.
“We maintain our end-2013 KLCI target of 1,850 points,” it said.
CIMB Research said that the selling this week has been excessive and that it is a good time for investors to bottom-fish.
“Our preferred sectors remain the ETP winner, that is oil and gas, CONSTRUCTION [] and property,” it said.
Business & Markets 2013
Written by theedgemalaysia.com
Friday, 23 August 2013 09:23
KUALA LUMPUR (Aug 23): CIMB Research has maintained its end end-2013 KLCI target of 1,850 points and said that although Malaysia faces several macro headwinds that need to be addressed, the research house was are still Positive on Malaysia in the longer term and view the stock market's sell-off this week as an opportunity to accumulate positions on weakness.
In a strategy note Friday, CIMB Research said regional markets had come under selling pressure this week and Malaysia had not been spared.
It said that companies with high foreign shareholding were more susceptible to the selldown as foreign ownership wass still at a relatively elevated level.
“The re-rating catalysts include a return to stability for regional markets and potential government policies to assuage macro concerns.
“We maintain our end-2013 KLCI target of 1,850 points,” it said.
CIMB Research said that the selling this week has been excessive and that it is a good time for investors to bottom-fish.
“Our preferred sectors remain the ETP winner, that is oil and gas, CONSTRUCTION [] and property,” it said.
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