The Star Online: Business
The Star Online: Business |
- Foreign funds bought more than RM13.5b of Malaysian equities in 2012
- Malaysia's blue chips open lower, Axiata weighs
- Affin Research maintains Reduce rating on Aeon
| Foreign funds bought more than RM13.5b of Malaysian equities in 2012 Posted: 30 Dec 2012 06:41 PM PST KUALA LUMPUR: Foreign funds bought more than RM13.50bil of Malaysian equities in 2012, which was 7.1 times the net inflow of RM1.9bil in 2011, according to MIDF Equities Research. The research house said since January 2010, cumulative net purchase of Bursa Malaysia-listed shares by foreigners stayed above the RM30bil mark at RM30.8bil. It also estimated foreign investors remained net buyers of Malaysian equities for the third straight week ended Dec 28. It should be noted the FBM KLCI closed at an all-time high of 1,681.33. "On a net basis, foreign investors bought RM150.7mil (of equities) in the open market, surprisingly higher than the RM99.8mil purchased the week before, considering the fact that it was a Christmas week," it said. MIDF Research said foreign funds were net buyers on every trading day last week despite that overall trading volume was extremely low. "The rate of participation (average daily gross purchase and sale) was only RM508mil, the third lowest this year and a sharp drop compared with RM982mil the week before," it said. The research house said local investors continued to withdraw from the market which saw retailers continuing to be net sellers for the fourth consecutive week, offloading RM46mil of equities. As for participation rate, it was low and averaged less than RM500mil a day for the fourth week running at only RM451mil. "Local institutions also continued to sell, clearing RM105mil. Daily average participation rate plunged to RM1.01bil among the lowest this year. For 2012, local institutions sold, on aggregate net basis, RM9.52bil of equity," it said. |
| Malaysia's blue chips open lower, Axiata weighs Posted: 30 Dec 2012 05:18 PM PST KUALA LUMPUR: The FBM KLCI opened lower on Monday, the last trading day of the year, on some mild profit taking on key stocks including Axiata, Public Bank, CIMB and Tenaga after hitting an all-time high last Friday. At 9.07am, the KLCI was down 4.80 points to 1,676.53.Turnover was 24.78 million shares valued at RM13.04mil. There were 63 gainers, 63 losers and 111 counters unchanged. Axiata fell nine sen to RM6.65 and Tenaga was down four sen to RM6.90 while among the banks, Public Bank fell eight sen to RM16.22 and CIMB shed seven sen to RM7.60. KLCCP fell the most, down 13 sen to RM6.17 with just 100 shares done while Lafarge slipped 10 sen to RM9.32, also with 100 units transacted. |
| Affin Research maintains Reduce rating on Aeon Posted: 30 Dec 2012 05:09 PM PST Published: Monday December 31, 2012 MYT 9:09:00 AMKUALA LUMPUR: Affin Investment Research maintains its Reduce rating on Aeon Co. (M) Bhd and target price of RM10.30 pegged to an unchanged price-to-earnings ratio of 17 times CY13 earnings ratio (PER) of 17 times 2012 earnings per share. It said on Monday although it is positive on the group's prospects due to its sound expansion plans; healthy domestic consumer spending spurred by the government's handouts and steady growth in its property management division with healthy rentals and resilient growth in tenancy, the sharp year-to-date share price appreciation of more 75% has pushed valuations to an unjustifiable high level. "The stock is currently trading at 20 times FY13 PER with a dividend yield of just 1.3%. We maintain our Reduce rating on the stock and TP of RM10.30 pegged to an unchanged PER of 17 times CY13 EPS," it said. |
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