Jul
04
Malaysia’s Stocks Selloff Has Investors Sniffing for Bargains
By-
Country’s stock market capitalization down $33b since election
- Good opportunity to get back into growth proxies: Nikko Asset
A $33 billion selloff in Malaysian stocks since 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 $220 billion Japanese investor. Risks over rising interest rates and a global trade war have also been discounted by the recent selling, he added.
“Companies that we have always wanted to own and felt that valuations were the only issue are now coming back in our favor,” Tang said in a recent telephone interview. “This is a good opportunity to get back into some of these growth proxies.”…
Malaysia’s Stocks Selloff Has Investors Sniffing for Bargains
