Maybank IB: No change to year-end KLCI target of 1,940

Maybank IB Research said it is maintaining its year-end target for the FBM KLCI at 1,940 points. Implying a 12 month forward earnings ratio of 16 times. The research house had shaved off its estimates on the index's core earnings by 0.7 percent for 2014 and 1.1 percent for 2015.