KLCI end of 2010 target raised to 1,400 pt

BURSA-s RHB Research Institute Sdn Bhd raised its end-2010 target for Malaysia’s benchmark FTSE Bursa Malaysia KLCI Index to 1,400 points from 1,370 on hopes of improved corporate earnings.

The research house expects the 25 index stocks under its coverage to report average earnings growth of 15 per cent in 2010 and 14.1 per cent in 2011, after contracting 15.7 per cent this year.

It named CIMB Holdings Bhd, Tenaga Nasional Bhd, Genting Bhd, and Kuala Lumpur Kepong Bhd and Top Glove Bhd among its top stock picks for 2010. -- Bloomberg

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