It's now less than a month to 2023. Can you believe it?
The past 2 weeks had been a roller coaster ride for Malaysian political scene, post-GE15.
Our new Prime Minister Dato' Seri Anwar Ibrahim (DSAI) had formed his new Cabinet.
Although his Cabinet has drew some criticism, what I'm more concerned, is whether our local stock market, the Kuala Lumpur Stock Exchange (KLSE) would take it as good news or bad news. Would the KLSE's recent rise fall flat again? I don't think so.
I'm expecting the KLCI to breach 1500 by year's end. Which means, majority of Malaysian stock prices will continue to go up.
This is because with a Cabinet in place, there is certainty now that a new government would be running the economy.
Unlike DSAI formed his Cabinet, I haven't formed my 2023 Stockpicks yet.
With many expecting a recession next year, it's widely assumed that the stockmarket won't perform that well.
I think the stockmarkets have a way of surprising us.
We must not throw caution to the wind.
But we shouldn't be overly pessimistic either.
My favourites for 2023, are still the tourism & aviation sector, banking and consumer goods.
On another note, I'm startled by the surge in share prices of tech stocks like FRONTKN, PENTA, etc.
The fear of the semiconductor sector's downturn seem to have dissipated.
I still remain cautious nonetheless.
Another stock which caught my eye was the crash in HENGYUAN's share price. It was due to its recent huge quarter loss. While I empathise with its shareholders, I've no comments on it as I have a lack of understanding of it.
The stockmarket is like a Ferris Wheel.
Sometimes, you are down. Sometimes, you are up.
I hope we are on our way up now.
Disclaimer: This article is not tailored financial advice, but mere general stock sharing / observations. Please do further due diligence. The author disclaims all liabilities from readers.
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