Friday, May 07, 2010

The Stock Market Is Heading For Better Times

Huh?

That's what I said too - given what has happened this week.

Then I realised it's market comments from OSK.

LOL!

Ok I am being nasty here but I guess some folks have no sense of timing or whatsoever. :P

Stock market heading for better times

  • Petronas listing in H2 will spill over into the oil and gas play

    KUALA LUMPUR: The economy will be back in business in 2011, and the stock market will be better than what it is now, said OSK Investment research head Chris Eng.

    “With the listing of Petronas’ (Petroliam Nasional Bhd) units in the second half of the year, there will be a spillover into the oil and gas play.

    “The Sarawak state election should also provide some excitement. Things should go back to normal by year-end,” Eng said during the launch of OSK’s Top Malaysian Small Cap Book: 50 Jewels.

    Eng added that most of his clients were now trading in the market, although clients who had global headquarters were still cautious. According to him, the next few months will be choppy with a mixture of positive and negative headlines, but all these are temporary factors.

    Eng has a year-end FBMKLCI target of 1,465 for 2010, and a fair value target of 1,580 for 2011....






5 comments:

Richard Cranium said...

Chris Eng and his bosses are talking a good game. Never trust a broker with a "research" department.

Moolah said...

This is a very, very good point.

solomon said...

I am not surprise, just move the heavyweight...but the penny stocks will be dead???

In Malaysia, is there any good broker that don't have research dept? Just pondering....

Moolah said...

They say if one looks at a research house historical recommendation and target price given by the research house, one has a fairly good idea about the quality of the research house.

Here's one past example: Axiata.

Recommendation history and price target.

24th Dec 2008. Axiata 3.58. Maintain Neutral at 4.20.
08th Jan 2009. Axiata 3.60. Maintain Neutral at 4.20.
06th Feb 2009. Axiata 3.18. Maintain Neutral at 4.20.
19th Feb 2009. Axiata 3.36. Maintain Neutral at 4.20.
28th Feb 2009. Axiata 3.06. Maintain Neutral. TP lowered to 3.00. ... ???
25th Mar 2009. Axiata 2.61. Take profit. Downgrade. TP lowered to 2.50.
30th Mar 2009. Axiata 2.38. Upgrade to Neutral. TP at 2.50.
28th Apr 2009. Axiata 2.10. Take profit. Downgrade. TP lowered to 1.73.
20th May 2009. Axiata 2.32. Upgrade to trading buy! TP at 2.70.
18th Jun 2009. Axiata 2.28. Trading buy maintained. TP at 2.70.
08th Jul 2009. Axiata 2.42. Trading buy maintained. TP at 2.70.
21st Jul 2009. Axiata 2.98. BUY upgrade. TP at 3.40.

Source: July 2009: http://whereiszemoola.blogspot.com/2009/07/featured-report-osk-research-on-axiata.html

Moolah said...

ps: I love this article also.

http://whereiszemoola.blogspot.com/2009/09/osk-market-views.html