TECH and global healthcare stocks are expected to lead Malaysian equities in next year’s anticipated recovery of the global and local economy.
The market has seen a meaningful rally this year, supported by ample liquidity mainly fixated on glove stocks.
More recently, news of Covid-19 vaccines has widened the focus to include other sectors such as banking and oil and gas. Despite the volatility that has arisen from political uncertainties and the rise in coronavirus infections in recent months, Principal Asset Management Bhd anticipates an exciting year ahead for the stock market.
“We cannot underestimate that growth may be patchy as recovery will take a while. But central banks are taking cognisance of the improved sentiment with the rollout of the vaccines; they will not be aggressively hiking rates in order for recovery to be on track,” its CEO Munirah Khairuddin tells The Edge in an interview at the company’s headquarters in Kuala Lumpur last Wednesday.