Page 61 - Equities News Today

Markets rattled by suggestions that interest rates may not come down as quickly as once thought

A look at Wednesday morning’s market action

KUALA LUMPUR: Malaysia's benchmark stock index backed further away from the 1,500-point level after having fallen through the support in the previous day's trading.

Hemang Kapasi recommends clients to shift exposure to largecaps and invest in sectors with structural uptrends due to potential volatility closer to the general elections. He advises staying invested in sectors that create long-term wealth, such as healthcare and consumption. India is expected to take a breather compared to other emerging markets before continuing its advance. The interim budget may include infrastructure and power sector-related capex announcements, as well as populist rural-c...

FIIs expected to increase allocations in India due to clear growth visibility. Budget 2024 may focus on capex, indigenisation, and manufacturing. Defence, railways, power, capital goods, and real estate likely to be in focus. Pharma sector seeing a rally due to stable pricing environment and expectations of favourable generic pricing in 2024. Investors should focus on remaining invested and sticking to planned asset allocation.

KUALA LUMPUR: The FBM KLCI retraced earlier gains to hover near the 1,500 support as regional investors dialled back bets the US Federal Reserve will soon start cutting interest rates.

A look at Tuesday morning’s market action

Resource stocks weigh on index

Mayuresh Joshi recommends allocating 50-60% in equities, 15-20% in debt instruments, and dividing the remaining equally between gold and cash, considering ones liquidity requirements. Joshi further says: "We might see increased allocation towards infrastructure which will have a multiplier effect on the economy. Railway and Defense sectors are expected to be under the limelight in the upcoming interim budget."

KUALA LUMPUR: Malaysia's benchmark stock index climbed on Monday as China defied expectations of an interest rate cut but injected fresh funds into the banking system.