KUALA LUMPUR: MIDF Research has set FTSE Bursa Malaysia KLCI’s (FBM KLCI) 2017 year-end target at 1,830 points, as the firm believes that the market is still on an upward trajectory. In its three-page strategy report published today, titled Climbing the Wall of Worry, it said that earnings recovery will resuscitate price momentum. "At the beginning of 2Q17, the FBM KLCI took a breather as it retreated to the 1,730 level amid geopolitical risks, i.e. As soon as the geopolitical noises faded, the FBM KLCI bounced back to levels near 1,800. “Above all, the market earnings recovery since mid-2016 to date has been rather incessant and is likely continuing," the note said.

Source: New Strait Times July 27, 2017 02:37 UTC