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Wednesday, December 5, 2012

Malaysia KLCI +0.3%; Sell On Rallies - Maybank

DJ MARKET TALK: Malaysia KLCI +0.3%; Sell On Rallies - Maybank


0506 GMT [Dow Jones] Malaysia's KLCI holds on to its gains, up 0.3% at 1612.02 at the midday break, in line with the rise in most Asian stock markets though overall trading volume remains thin. Maybank IB says investors should dispose on rallies as technical indicators suggest that the benchmark index may fall towards 1535-1569 in the longer-term in a downtrend that may last up to two months; the house tips the KLCI to face selling pressure around the 1607-1624 area. Market breadth is positive at 271 gainers and 213 losers with 391.9 million shares changing hands. Among the most active benchmark stocks, Maxis (6012.KU) is up 0.3% at MYR6.46, Axiata Group (6888.KU) up 0.2% at MYR5.94 and CIMB Group (1023.KU) is up 0.7% at MYR7.53.

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