KUALA LUMPUR: Post reporting season, analysts are affirming bullish outlooks on the domestic stock market as they expect economic expansion to pick up the pace and stocks to shrug off the sluggishness of the past year.
In a market strategy note, CGS International Research, encouraged by year-to-date gains in the FBM KLCI, said it maintained its year-end target of 1,755 points for the Malaysian benchmark.
The research firm said it anticipates that key headwinds that affected the market between May 2018 and July 2023 could turn into tailwinds lifting the market in 2024.
"These are policy inconsistencies turning into 'clarity and continuity'; ringgit weakness turning into strength and anemic earnings trends turning into double-digit profit growth.
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