Nevertheless, some local market experts are of the view that the Malaysian market will stage a rebound, following the recent selldown. Noting that the FBM100 index has fallen by 8.42% this year, Loh said the local market has largely priced in the possibility of a slowdown in the global economy. Inflation, he said, should ease in the second half as global trade normalises with China resuming supplying to the world. We anticipate the FBM KLCI to possibly touch 1,670 by year-end premised on a very reasonable 13.5 times CY2022 PER (price earnings ratio),” he said. Choo named the oversold technology and tourism-related sectors and undervalued banks as his top pick stocks.
