For the week ended Sept 8, some RM19.34 million flowed out of the top 20 stocks on Bloomberg’s selling-on-strength list while RM4.61 million flowed into the top 20 counters on its buying-on-weakness list.

Leading the buying-on-weakness list was Genting Plantation Bhd, which saw some RM700,000 flow into the counter as the stock shed one sen during the week to end at RM5.86 last Tuesday.

Another plantation outfit, Hap Seng Consolidation Bhd, came third with RM550,000 flowing into the counter. Hap Seng’s share price fell four sen to settle at RM2.56 last Tuesday.

As plantation players, both Genting Plantation and Hap Seng are expected to benefit from the projected uptrend in crude palm oil prices.

Multi Sports Holdings Bhd, one of the two Chinese firms listed on the local bourse via the IPO-route, lost one sen over the week to close at 55 sen last Tuesday. Some RM640,000 flowed into the counter.

Investors bought some RM510,000 worth of Green Packet Bhd-Right during the week. The counter remained unchanged at 25 sen apiece between Sept 2 and 8. It was recently reported that Green Packet plans to buy a stake in an overseas WiMAX provider.

Investors also bought RM340,000 worth of Genting Singapore-CW. The call warrant’s price was unchanged at 41 sen during the week.

Interest in the CW was most likely boosted by speculations that Genting Singapore’s casino will open this year, ahead of schedule. Furthermore, Genting Singapore has announced plans to raise as much as S$1.63 billion (RM4 billion) cash in a rights issue.

Malayan Banking Bhd topped Bloomberg’s selling-on-strength list, with investors disposing of RM7.48 million worth of its shares during the week.

Investors took some profit as Maybank’s share price gained 12 sen, or 3.64%, between Sept 2 and 8 to close at RM6.55 last Tuesday.

The country’s largest bank recently revamped its board, which saw the appointment of Tan Sri Megat Zaharuddin Megat Nor as its chairman effective Oct 1.

PPB Group Bhd saw an outflow of some RM3.35 million during the week as its shares reached a new high of RM15.64 last Tuesday. The counter gained 34 sen or 2.22%.

On Sept 4, PPB Group, which is controlled by Kuok Brothers Sdn Bhd, saw a single block of 22.2 million shares trade off market for RM339.67 million. Kuok Brothers is the single largest shareholder of PPB Group with a 50.17% stake, while the second largest is the Employees Provident Fund with 8.16%. The third biggest stakeholder is Gaintique Sdn Bhd with 7.95 million shares or 0.67%.

At MMC Corp Bhd, its share price increased 18 sen, or 7.83%, to close at RM2.48 last Tuesday. Investors took some profit by disposing of RM1.34 million worth of the company’s shares during the period.

AMMB Holdings Bhd saw RM1.12 million flow out of the counter, as its share price gained nine sen to end at RM4.19 during the week.

Investors also disposed of RM830,000 worth of Genting Malaysia Bhd shares as the casino operator gained 19 sen, or 6.96%, to close at RM2.92 apiece last Tuesday.

This article appeared in Capital page of The Edge Malaysia, Issue 772, Sep 14-20, 2009