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KUALA LUMPUR: US fund management company Invesco was seen reducing its stake in Fraser & Neave Holdings but accumulating shares in Nestle on Wednesday.
Bloomberg data showed the fund, which manages more than US$945.40bil in assets for clients, had sold 135,100 shares of Fraser Neave on Wednesday.
The disposal of the shares reduced its shareholding to 273,100 shares or 0.07%.
On the same day, it bought 39,300 shares of Nestle, raising its shareholding to 320,500 shares or 0.14%.
Shares of Nestle and F&N had scaled to record highs in recent days before coming under profit taking on Wednesday and Thursday.
Analysts said the strong interest in Nestle was due to its inclusion into the 30-stock FBM KLCI. They said Nestle could see also a stock split to make it more affordable.
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