PETALING JAYA: Equity trades in the months of May and June have been exceptionally strong, driven by high retail participation, causing analysts to raise their earnings forecasts for stock exchange operator Bursa Malaysia Bhd
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Maybank IB Research in a note to clients said that it had raised its earnings forecasts for Bursa to incorporate the strong second quarter (Q2) of this year, and higher equity trade expectations for the second half of this year and beyond.
It said its earlier equity average daily value (ADV) assumption of RM2.3bil for financial year 2020 (FY20) was no longer realistic in light of the strong Q2.
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