All eyes on Q4

KUALA LUMPUR: The FBM KLCI is likely to perform better in the fourth quarter once there is less noise from political uncertainties and Covid-19-induced movement restrictions, according to Maybank Kim Eng head of regional equity research Anand Pathmakanthan.

Maybank Kim Eng regional co-head Chua Hak Bin; head of research Singapore and regional financials Thilan Wickramasinghe; and chief economist and regional co-head Suhaimi Ilias were the other participants at the webinar, which was moderated by Bloomberg TV markets reporter Sophie Kamaruddin. “As far as the corporates are concerned, based on what we see from earnings delivery for the last three quarters, they are being pretty resilient,” he added.

“The beginning of interest rate policy normalisation may only happen in late 2022 for economies like Malaysia, the Philippines and Indonesia,” he said. However, Suhaimi noted that the investment bank’s in-house research indicated that the Malaysian economy had contracted in June and July, on the basis of manufacturing Purchasing Managers’ Index .

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