SEOUL: A local civic group recently revealed its analysis of 46 consultation cases involving employees of small businesses, the majority of which were related to what the employees saw as wrongful dismissal from work.
The RM1.8 trillion domestic economy, which has become a magnet for foreign investments and whose currency is the best regional performer this year, is just points away from its bourse entering a bull market.It needs less than 50 points to enter the bull market, which many analysts in town think is highly possible before the year-end.
The current FBM KLCI rally took a beating on Aug 5 amid the global equity sell-off, led by the unwinding of the yen-funded carry trades as well the recessionary fears in the United States as jobless rate in July ticked up – the highest level since October 2021.However, in just a week, the index has recovered over 94% of the losses.
Despite the rally, the local stock market is still not expensive for investors, with FBM KLCI currently trading below its five-year mean, according to Tradeview Capital chief executive officer Ng Zhu Hann. After rising by more than 200 points over the past year, Ng said FBM KLCI would need “some time to stabilise” before staging the next surge.
Apart from foreign funds, corporate earnings growth delivery would be key in taking the FBM KLCI higher, said Maybank Investment Bank head of Malaysia equity research Wong Chew Hann. “We maintain our end-2024 FBM KLCI target of 1,680 points, which implies a forward price-to-earnings multiple of 15 times,” said Wong.
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