KUCHING: The bullish market sentiment is underpinned by fundamentals including domestic consumption and investment, says Second finance minister Datuk Sri Wong Soon Koh.
He said on Tuesday, Jan 18 that other factors were the strong commodity prices and currency appreciation.
"These factors support this view," said Wong, who is also Minister of Environment and Public Health of Sarawak at the signing of the underwriting agreement between ABM Fujiya Bhd and Aminvestment Bank here.
Wong said a majority of strategists had a target upside of at least 10% from the current index levels of 2011.
At 12.30pm, the FBM KLCI was down 3.59 points to 1,570.9 on mild profit taking. The 30-stock index closed at fresh record high of 1,574.49 on Monday.
In Kuala Lumpur, Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed said Malaysia's manufacturing sector attracted RM47.2 billion in approved investments in 910 projects in 2010. This was a 44.8% surge when compared to the RM32.6 billion for 766 projects in 2009, he said.
Of the RM47.2 billion, foreign investments accounted for RM29.1 billion, this was an increase of 31.7% from RM22.1 billion in 2009, due to investments in new growth areas, emerging technologies and an improvement in the economies of capital exporting countries.
He said on Tuesday, Jan 18 that other factors were the strong commodity prices and currency appreciation.
"These factors support this view," said Wong, who is also Minister of Environment and Public Health of Sarawak at the signing of the underwriting agreement between ABM Fujiya Bhd and Aminvestment Bank here.
Wong said a majority of strategists had a target upside of at least 10% from the current index levels of 2011.
At 12.30pm, the FBM KLCI was down 3.59 points to 1,570.9 on mild profit taking. The 30-stock index closed at fresh record high of 1,574.49 on Monday.
In Kuala Lumpur, Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed said Malaysia's manufacturing sector attracted RM47.2 billion in approved investments in 910 projects in 2010. This was a 44.8% surge when compared to the RM32.6 billion for 766 projects in 2009, he said.
Of the RM47.2 billion, foreign investments accounted for RM29.1 billion, this was an increase of 31.7% from RM22.1 billion in 2009, due to investments in new growth areas, emerging technologies and an improvement in the economies of capital exporting countries.
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