Daily Market Report (5 Sept 2019)
- It has been another round of downgrade in corporate earnings growth following the completion of the 3Q19 results season recently.
- Analysts further revised down their estimates especially for the Banking and Plantation sectors as prevailing market volatility further dampens sentiments. Therefore, earnings growth for 2019 is seen to decline by 3.1% from -0.5% previously.
- As for 2020, earnings growth is also expected to be weaker at 5.6% from 6.1% previously. As a result, expectations for the FBM KLCI by end-2019 is also less optimistic tagged at 1,680 from 1,720 before.
