2020 great year for stock market: Nazri

SHAH ALAM: The year 2020 is expected to be great year for stock investing, driven by big catalysts like the US presidential election, Brexit developments and expected leadership transition in Malaysia next year, said newly appointed Inter-Pacific Asset Management Sdn Bhd (IPAM) head Datuk Dr Nazri Khan (DDNK) (pix).

“We expect the US-China trade war to cease fire and reduce tension, so this will be positive for the world. We’re optimistic that US and China are going to come up with certain trade deal in the near term before the Apec 2020. The US presidential election next year is normally the biggest catalyst to push markets higher,” he told a press conference at the Menang Saham Bersama DDNK seminar, which attracted 5,000 participants last Saturday.

He said the Dow Jones Industrial Average is at an all-time high of some 28,000 points, while the Nasdaq hit some 8,300 points, representing a great opportunity for Malaysians to consider investing in syariah US and Bursa stocks.

“Brexit (developments) is better than what we expected. We’re also seeing signs that commodities are recovering. The price of oil has started to go up along with the price of crude palm oil. It’s a great time for us to invest overseas, so we want to position IPAM as a significant player in the syariah global stock market,” said Nazri.

Locally, he said the year 2020 is symbolic where Malaysia is expected to be a developed and fully industrialised nation, where this will spur interest to invest in the global stock market.

“We also expect the political succession in the country to run smoothly next year. Hopefully we see new economic policies that will give more confidence to foreign investors to come,” added Nazri.

He noted that Malaysia’s stock market valuation is the best since 2008, with

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