=MARKET BUZZ: Malaysia KLCI Falls 0.5%; Analyst Says Upside Remains
KUALA LUMPUR (Jun 12) -- Malaysia KLCI falls 0.5% to 1643.08, tracking decline in Asian markets, amid broader concerns over U.S.-China trade tensions; Tenaga Nasional leads index losers with 1.6% loss to MYR12.28. Overall, losers outnumber gainers 330 to 209 with more than 762 million shares worth MYR462 million changing hands. Nikkei Asia300 Index is down 0.7%. Investors are taking profit from recent gains across the board, says analyst at local brokerage. Adds, “I can’t recommend buy-on-dips strategy with the current uncertainties, but I can say it wouldn’t be wise to sell on rally, yet.” Notes, there’s still upside space considering that Malaysia have underperformed most emerging markets year-to-date.
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