PETALING JAYA: There has been a downgrade of corporate earnings across the board, save for beneficiaries of the coronavirus (Covid-19) pandemic and the plantation sector.
Yet corporate earnings are still marred with uncertainties as analysts are unable to gauge the eventual impact of the pandemic, mainly due to the 45 days of non-operation for most businesses due to the movement control order (MCO) since March 18 before it was converted into a conditional MCO on May 4.
Rakuten Trade Sdn Bhd is projecting that the FBM KLCI would close at around 1,400 points at the end of this year, based on 15 times its market price-to-earnings ratio (PER), barring any drastic revision of corporate earnings.
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