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UOB Kay Hian trims KLCI target to 1,665 on 'disappointing' 1Q21 results

Atiqah Mokhtar
Atiqah Mokhtar6/3/2021 5:5 PM GMT+08  • 2 min read
UOB Kay Hian trims KLCI target to 1,665 on 'disappointing' 1Q21 results
The cut in forecast also follows a "punishing" May for Malaysian equities.
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Photo: Bloomberg

UOB Kay Hian(UOB KH) has reduced its 2021 earnings forecast for the FTSE Bursa Malaysia KLCI (FBMKLCI) after “disappointing results” in 1Q2021.

“Q-o-q, a higher percentage (30%) of the companies under our coverage reported disappointing 1Q2021 results, while only 21% surpassed expectations,” say analyst Vincent Khoo and UOB KH’s Malaysia research team in a June 2 research note.

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