Bolehland lovers, good news. Nomura upgrades Malaysia to "overweight"
Brexit makes Malaysia attractive and is upgraded to 'overweight' NomuraKUALA LUMPUR: The Malaysian market looks to be trading at its bottom, and the United Kingdom’s referendum to leave the European Union or Brexit, has made Malaysia even more attractive, with Nomura upgrading it to an “overweight” as of Monday, said Nomura vice-president of equity strategy, Asean and Asia ex-Japan global markets, Mixo Das.
“The Brexit event has changed three of our macro outlooks,” he said at a briefing on Nomura’s equities outlook for the second half of the year.
“Firstly, the prospects of developed market growth is now reduced. Secondly, we anticipate central banks across Asia to embark on more policy easing as opposed to policy tightening. Thirdly, Brexit raises a lot more uncertainty,” said Mixo.
He added that the combination of points 1 and 2 makes Malaysia more attractive, as it is less dependent on growth from developed markets unlike South Korea and Taiwan.
URL:
http://www.thestar.com.my/business/busines...ore-attractive/