Published: Tuesday January 4, 2011 MYT 11:48:00 AM
Updated: Tuesday January 4, 2011 MYT 12:26:38 PM
Stock market sees seven months of net foreign buying
PETALING JAYA: Bursa Malaysia has seen seven consecutive months of net foreign fund inflows on a strengthening ringgit and measures by the Government to boost the economy.
According to Kuala Lumpur-based Credit Suisse Group AG analyst Tan Ting Min in a Tuesday report, foreign funds bought RM2.6 billion worth of shares in December, rebounding from RM900 million in November following RM1.8 billion worth of purchases in October.
“The stock market will be driven by liquidity, supported by a robust economy, rising commodity prices and a stronger ringgit,” she said.
Tan added that efforts to transform the economy to attract investments would also boost the market.
Among her stock picks were CIMB, Public Bank while Gamuda and IJM Corp were key beneficiaries of the Economic Transformation Programme.
Tan said UEM Land, AirAsia and Axiata were also stocks to look out for.
CIMB : [Stock Watch] [News]
PBBANK : [Stock Watch] [News]
GAMUDA : [Stock Watch] [News]
IJM : [Stock Watch] [News]
UEMLAND : [Stock Watch] [News]
AIRASIA : [Stock Watch] [News]
AXIATA : [Stock Watch] [News]