According to Hong Leong Investment Bank's latest Market View report today, their FBM KLCI year-end target of 1,670 (15x 2012 earnings) is "at risk with downside bias in view of risk aversion and potential global recession." It is noted however that Asia is facing this from a "position of strength given room for monetary loosening, ample liquidity, strong banking system and rising consumerism amidst reducing inflationary threat."
For investors who want to remain invested, they recommend defensive stocks such as Public Bank, Axiata, Digi, TM, Maxis, KLCCP, BJToto and Boustead as well as some high dividend yield stocks and REITs.
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