Tuesday, January 3, 2012

OSK Research advises investors to remain defensive, sell above 1,500

KUALA LUMPUR (Jan 3): OSK Research said its expectation of a December rally proved correct as the FBM KLCI raced up in the final trading week of 2011 to end at 1530.73, less than 3.0 points shy of its 2011 year-end target.

'We stand by our earlier strategy that investors should 'Remain Defensive, Sell when KLCI breaks above 1500, and Buy as the index approaches 1300', it said.

OSK Research said it has a Sell call on the market for January. It viewed the KLCI as overpriced and lacking fundamentals to sustain at this level.

'With three of our five Top December buys having outperformed the KLCI, we are switching to the more unconventional small cap buys for January given our broader market Sell call,' it said.

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