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For the week of Dec 1 to 7, some RM18.18 million flowed into the top 20 stocks on Bloomberg’s buying-on-weakness list. In contrast, RM4.74 million flowed out of the top 20 counters on its selling-on-strength list.

Conglomerate Sime Darby Bhd topped the buying-on-weakness list, with RM5.01 million flowing into the counter. The shares fell two sen to close at RM8.95 last Monday.

The company announced on Dec 4 that its plantation unit had acquired palm oil grower Nature Ambience Sdn Bhd for RM16.8 million, saying that the acquisition would enable the group to develop oil palm plantations in Sarawak under the state government’s new concept of development for Native Customary Rights land.

In second spot was Telekom Malaysia Bhd, which saw RM3.83 million flow into the stock as it fell five sen or 1.64% over the week to close at RM3.

These two counters accounted for RM8.84 million or 51% of the RM18.18 million that flowed into the top 20 counters on the buying-on-weakness list.

PLUS Expressways Bhd came in third, with RM1.77 million flowing into the counter as its share price fell four sen to end at RM3.27 last Monday.

Other notable counters that attracted investor interest over the week included power utilities Tenaga Nasional Bhd and YTL Power International Bhd, which saw net inflows of RM1.3 million and RM1.16 million respectively.

On Dec 3, Second Finance Minister Datuk Seri Husni Hanadzlah said that the government was looking at the possibility of reducing tariff on utilities to benefit all consumers, including industries.

Wah Seong Corp Bhd fell 0.02 sen to close at RM2.38 on Dec 7, attracting an inflow of RM340,000 into the counter.
Genting Malaysia came out on top on the selling-on-strength list, with an outflow of RM700,000 during the week in review. The stock gained one sen or 0.36% over the week to close at RM2.82 last Monday.

Some RM520,000 flowed out of Kuala Lumpur Kepong Bhd as the counter gained 44 sen or 2.82% over the week to close at RM16.04 on Dec 7.

IJM Corp Bhd was third on the list, with RM360,000 flowing out of the stock as it gained 2% or nine sen over the week.
There was an outflow of RM160,000 over at Hock Lok Siew Corp Bhd as the counter rose 4.65% during the week to close at 22 sen last Monday. The company was recently queried by Bursa Malaysia on its proposed acquisition of two units of 1½-storey terraced factory buildings with total floor area of 6,224 sq ft, valued at RM750,000. The company said the funding would be generated internally.

Investors took profit in glove makers Top Glove Corp Bhd and Supermax Corp Bhd as their share prices gained five sen, or 0.55%, and nine sen, or 2.37%, respectively to close at RM9.20 and RM3.89.

GHL Systems Bhd was one of the top gainers in percentage terms on the selling-on-strength list. The stock gained five sen or 13.89% to end at 41 sen last Monday. Some RM220,000 worth of GHL Systems shares were sold over the week.


This article appeared in Capital page of The Edge Malaysia, Issue 785,Dec 14 – 20, 2009.

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