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=MARKET BUZZ: UOB Keeps Malaysia KLCI's End-2017 Target At 1,770

KUALA LUMPUR (Oct 13) -- UOB Kay Hian Securities keeps KLCI's end-2017 target at 1,770 points ahead of Budget 2018, scheduled on Oct 27. Index now flat at 1753.42. House expects coming Budget to be market neutral, reaffirming high infrastructure spending, promoting growth areas (value-added exports, transportation, logistics), announcing incentives to low-income earners and civil servants and providing tax relief for the middle income. "We continue to promote mega infrastructure and E&E (electrical & electronics) investment themes, while the tourism-related theme would gain traction. The election theme is expected to regain momentum by year-end," says house in investor note. Property developers, particularly those that have sizeable landbanks with focus on affordable townships, may also benefit from potential relaxation of lending policies and introduction of developers' interest bearing scheme (DIBS) to first-time homebuyers.

- By Chong Sin Hao;; +60320267363
- Edited by Abhijit Basu
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