Showing posts from December, 2012

2013 target for FBM KLCI by TA Securities

The end-2013 target of 1,710 for FBMKLCI after applying 2008-2011 average forward PER of 14.3x on mid-cycle EPS of 120 sen appears justified for now and could be raised if BN returns with an overwhelming victory.The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) managed to extend gains into a third week on persistent window-dressing support, optimism that the US fiscal cliff will be resolved before the year-end deadline and after Japan expanded quantitative easing and economic stimulus measures. Profit-taking ahead of the weekend, however, checked gains.

For the week, the FBM KLCI added 0.42 per cent to 1,658.85, with (+17 sen), Sime Darby (+21 sen), Petronas Dagangan (+RM1.38) and Petronas Gas (+45 sen) contributing most of the index’s rise. Average daily traded volume and value fell to 774.9 million shares and RM1.31 billion, compared with the 862.3 millionshares and RM1.52 billion in the previous week, with the trading pace slowing to a six-month low as mos…