Market Outlook
Mixed
4Q23 Market Outlook - Final Spurt to the Finishing Line
Mon, 09-Oct-2023 08:35 am
by Research Team • Apex Research

Summary

  • Given that risks have turned more balanced and valuations are now slightly appealing, we expect global markets to tick higher, moving into the final quarter of 2023.
  • With the prospects of earnings growth still on the cards, we reckon that the usual year-end window dressing activities may present some investment/trading opportunities.
  • Investors may adopt a blend of moderate and aggressive stance on stocks with sustained earnings growth prospects.
  • Our 2023F and 2024F year-end target for FBM KLCI are 1,497 and 1,547 respectively, based on assigned 15x and 14x PERs.
Sentiment: Positive
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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.373243 4.414705
EUR 4.565507 4.577376
CNY 0.602867 0.604630
HKD 0.561419 0.566456
SGD 3.236779 3.265133