Clearly, USD/MYR hits double on June 4 and June 22. USD starts to weaken. Excess funds are pour back to market. KLCI which found its bottom on May 16 has been charging ahead without fear. Those who bought in before April 2012 and lost money due to the -4% correction would have healed the wound by now. The market has reversed to the original point 3 months ago. I believe, market bullishness will grow from strength to strength. Typically, fund managers around the world has another 5 months (July to Nov 2012) to play the market. My prediction is as follows:
Barring for unforeseen circumstances, with GE 13 in mind, Market has recouped its -4.4% correction in April 2012. As at mid year 2012, KLCI is +6%. Taking into consideration of GDP growth of 4.5%, i m projecting another +4% growth in market making it 10% growth full year 2012. The market has staged a strong footing since mid June 2012, increase in volume and KLCI. It will be fun to see market going up until GE 13 is announced.
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