Strategy Flash Note - All about elections in Europe roadshow (CIMB)

In the second leg of our 2012 strategy roadshow, the investors we met in four European cities had relatively light Malaysian holdings. Politics was the recurrent topic, specifically the election and its timing. Although we are optimistic that the period before general elections are called will be buoyant for the stockmarket, we continue to advise investors to sell into strength as election risks remain elevated. Maintain Neutral on Malaysia and end-2012 KLCI target of 1,610pts.