BFM 89.9
The Business Station
On Sarawak Elections, Why WTK Holdings & Lingui Developments Preferred
5 mins·02:17, 23 Mar 2011
On Sarawak Elections, Why WTK Holdings & Lingui Developments Preferred
5 mins
·
02:17, 23 Mar 2011
·
Recommended
Next View Sdn Bhd Chief Market Strategist Benny Lee says market is headline-driven. However, a rally unsupported by fundamentals won't have a good uptrend. Eschews herd mentality.
Normally, stocks are overspeculated after the Sarawak pre-election rally, somewhat bubble-like, so chances are it will happen again so exit before nomination day. Explains why top picks are timber players like WTK Holdings and Lingui Developments. Also likes glovemakers, which have gone into correction for sometime, so looking at this sector. He also favours oil and gas, as expecting crude oil to hit US$120 per barrel in short term, now trading at US$103 per barrel. Top picks for oil and gas are Petronas Chemicals and Petronas Dagangan.
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