There are indications that the stock market will maintain upward trend in the financial year 2010 if the rising investors' confidence and earnings from the quoted companies are sustained coupled with the recently passed bill by the National Assembly for the establishment of Assets Management Company (AMC) when it takes off and buy out the toxic assets of the rescued banks.
The National Assembly recently passed the contentious bill for the establishment of the AMC. The AMC is expected to relieve the trouble banks by buying their toxic assets otherwise known as bad loans with a view to clean up their balance sheet and put them in a competitive and profitable situation.
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