KUALA LUMPUR (Nov 8): Hong Leong Investment Bank Research (HLIB) has maintained its 12-month KLCI target of 1,660 points, which is based on 1.5 times (-0.5 standard deviation [SD]) 2020 PE.

In a Market Outlook note today, HLIB’s Jeremy Goh said drawing for historical probability, November has a 70% chance of ending red; suggesting a strategy to buy on any weakness this month, to ride on a likely December upside.