Markets
No meaningful recovery anytime soon
Cheah Chor Sooi | 29 Jun 2018 00:30
The local bourse is staring at a bleak short term outlook with external shocks continuing to rear their ugly heads and affecting investor sentiment.

Combined with impact from the 14th General Election (GE14) outcome, notably the shock defeat of the Barisan Nasional government and the untested performance of the Pakatan Harapan coalition, the prevailing market weakness that has gripped the equity market may even stretch to the medium term.

Amid prospects of two more interest rate hikes by the US Federal Reserve Board (Fed) which will have an adverse effect on emerging markets as well as tensions over the unresolved USChina trade dispute, JF Apex Securities Bhd research head Lee Chung Cheng does not expect foreign selling to abate anytime soon.

“Any market rebound could be technical and mild as we do not foresee the immediate return of foreign funds, at least for 3Q this year,” he tells FocusM.

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