Thursday, January 6, 2011

KLCI may stampede past 1,781

HwangDBS had a year-end target of 1,730, while UOB Kay Hian Research said the index may "stampede" past 1,781 by the first half of the year on foreign fund buying and expectations of a general election.

Read more: Best stock market volume in 20 months

(TheStar) According to MIDF Research in a recent research note, prospects for the local bourse would be good this year, with foreign liquidity continuing to be drawn to Malaysia.

Last October, the FTSE re-classified Malaysia as an "advanced emerging market", effective June this year.

"This is expected to attract foreign funds tracking FTSE indices (estimated to be more than US$3 trillion). Malaysia will be only one of nine countries to be in the category.

"Only four Asian countries are in the developed bracket (Hong Kong, Japan, Singapore, Korea) out of 25," MIDF Research said.

It is very difficult to find any negative catalyst at the moment why the stock market should go down. I would say go to the usual place and listen, see whether uncles and unties, taxi drivers, hair dressers will give you stock tips. Until then, enjoy the ride. Everyone is a stock genius now.

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