Monday, September 26, 2011

OSK Research maintains 2012 KLCI fair value at 1,466

KUALA LUMPUR: OSK Research said with the FBM KLCI having fallen below its previous non-recessionary bottom target of 1,378, it stills see potential for further market retracement although a possible deep recession can probably be averted.

It said on Monday, Sept 26 that in the medium term, it is maintaining its 2012 KLCI fair value at 1,466 seeing a slow recovery forward unlike in 2009.

'We retain our Defensive stance recommending Telcos, Consumer, Healthcare and Media as defensive sectors.

'Nonetheless, with the market approaching our new 1,350 non-recessionary bottom, we believe some bottom 'nibbling' would be reasonable although we do not recommend aggressive bottom fishing,' it said.

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