KUALA LUMPUR: The changes in top management officials in some government-linked companies (GLCs) this year are not expected to drastically affect market sentiment, according to Rakuten Trade’s head of research Kenny Yee.
“I think business is as usual and I don’t see any road bumps for these companies,” he told the media during the fully online broker’s market outlook briefing here today.
“We also expect foreign funds to return following their exodus recently as traditionally December, January and February are the more active months,” he added.
Yee said the benchmark FBM KLCI is expected to touch 1,780 points by year end and 1,840 in 2019. The target is based on 16 times the market’s forecast earnings.
