Time to buy Malaysian shares

Foreigners have been coming back to the Malaysian stock market over the last three to four weeks, and coupled with Malaysia’s relatively cheaper valuations and earnings estimates that are less bad, it is now a good time to start buying Malaysian stocks, said David Ng, Affin Hwang Asset Management chief investment officer.

“Most fund managers have been underweight on emerging markets over the last few years.

“Recently, foreign flows into Asia have been very strong. In Malaysia, especially, we are seeing strong inflows into our Malaysian Government Securities, with foreign holding now at an all-time high of 51%,” Ng told reporters during a media briefing on the global market outlook for the second half of 2016.

While foreigners have yet to come back to Malaysian equities in a big way, the fact that they are starting to flow in is a positive, as over the last 12 months, they have been overall net sellers of the Malaysian equity market.

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