=MARKET BUZZ: Malaysia's KLCI Edges Up 0.1%; Proceed Cautiously With Index Stocks
KUALA LUMPUR (Apr 12) -- Malaysia's KLCI edges up 0.1% to 1626.14 in tight three-point range as investors consolidate their position ahead of the weekend. Malaysia Airports up 2.9% to MYR6.80 to lead gainers in the index. Overall, gainers outnumber losers 319 to 233 with more than 949 million shares worth MYR408 million changing hands. Nikkei Asia300 Index down 0.3%. “Small cap stocks have been the bright spot in the market,” says dealer at local brokerage; recommends investors to be "very cautious" with index stocks, flagging risks of foreign outflow and domestic policy uncertainties. Technical analysts meanwhile are divided over signals from charts, with UOB Kay Hian seeing longer-term bearishness while Hong Leong thinks KLCI is oversold.
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