Malaysia’s stocks selloff has investors sniffing for bargains

In its weekly fund flow report, MIDF Research said that foreign investors acquired RM273.3mil worth of Malaysian equities in net value last week. The figure, which excluded off market trades, was more than three times the amount acquired in the preceding week worth RM86.6mil.

SINGAPORE: A US$33bil selloff in Malaysian stocks since Tun Dr Mahathir Mohamad’s election has got Nikko Asset Management on the hunt for bargains.

Some of the nation’s banks, consumer and healthcare shares have now fallen to attractive levels, according to Kenneth Tang, a fund manager at the US$220bil Japanese investor. Risks over rising interest rates and a global trade war have also been discounted by the recent selling, he added.