KLSE Overbought

January 2007 | Market Strategy

BMI View: Malaysia's stock exchange, the KLSE, has made very strong gains over the past year, climbing by 21.8% in 2006 and then by 2.8% in 2007 thus far, to an almost ten-year high. Malaysia's economy had a strong 2006, with external conditions favouring exporters, but it was not enough to justify such dramatic gains. Instead, the general hubris surrounding Asia stocks accounts for much of the increase, and this could augur a

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