Top Story : Market Outlook & Strategy 2H2010 – Still a bumpy ride
Strategy Update
- Uncertainty persists in the global economy although we believe the risk to the global economy is a sharperthan-expected slowdown in the 2H and not a “double-dip”.
- For Malaysia, economic growth is envisaged to slow down to 4.8% yoy in the 2H, from an estimate of +8.8% in the 1H, as the “V-shape” export recovery normalised and demand from Europe and China softened. Consequently, corporate earnings growth is likely to have peaked. Market valuations, though not cheap, remain at reasonable levels.
RHB Equity 360° - 1 July 2010 (Strategy, Consumer, Banks, MRCB, Tanjong, Hiap Teck; Technical: Genting)
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