SINGAPORE (June 11): The tide appears to be turning for Malaysian stocks as the biggest exodus of global funds since 2015 dissipates. Overseas investors poured a net US$84 million into the nation’s stocks last week, the most since late January, Bloomberg-compiled data show. Wong has been buying stocks with exposure to glove makers and companies tied to consumer and digital services. Hope of more interest rate cuts and earnings surprises at companies including Telekom Malaysia Bhd and Tenaga Nasional Bhd have also aided investor sentiment. There is a “bottom getting formed” and we are buying stocks, which are showing signs of an earnings recovery, Areca’s Wong said.

Source: The Edge Markets June 10, 2019 22:20 UTC