The prospects of a sustainable global economic recovery have improved in recent months despite the emergence of sovereign debt worries of late. This augurs well for the country’s exports, which coupled with strengthening domestic private sector demand will see the Malaysian economy rebounding to expand by 4.5% in 2010. Similarly, the recovery in corporate earnings has gained momentum and the normalised net EPS for the FBM KLCI stocks under our coverage is projected to bounce back sharply from a ontraction of 14.2% in 2009 to a double-digit growth of 15.3% each in 2010 and 2011.
Market Outlook & Strategy 2Q2010 : Market Uptrend Amid Policy Normalisation - 01/04/2010
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