Published:
Profit taking dominates KLCI
More sell-off based on further risk aversion is expected, says OCBC.
OCBC Treasury Research noted:
Profit taking continued to dominate the KLCI on Wednesday as concerns over the state of the global economy resurfaced in the market. With S&P downgrading Spain’s credit rating, expect more sell-off based on further risk aversion intra-day, especially since we expect little to cheer from the August IPI data due later today. Meanwhile, ING Group has announced the EUR 1.3bn sale of its insurance business in Malaysia to AIA.
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