=MARKET BUZZ: Malaysia Consumer Stocks Hits Record High On Likely Funds Buying
KUALA LUMPUR (Mar 13) -- Bursa Malaysia Consumer index +1.8% at record high of 719.41 points, on likely funds buying, says analyst at local brokerage. Nestle (Malaysia), with highest weightage leads index, +4.9% at MYR157.80, its yet another record high. "Fund managers are adjusting their portfolios ahead of general election with increased uncertainties, as big consumer names typically least affected by a potential change in politics," analyst says; expects sector's earnings supported by rising national income and changes in consumer behavior. Still, "the yields are turning less attractive post recent rally; industry will also likely underperform once market sentiment turns bullish again," analyst adds.
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