Malaysia's stocks have fallen to attractive levels and investors are sniffing for bargains

(July 5): A US$33 billionv($45.1 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 stocks have now fallen to attractive levels, according to Kenneth Tang, a fund manager at the US$220 billion Japanese investor.

“Companies that we have always wanted to own and felt that valuations were the only issue are now coming back in our favour,” Tang said in a recent telephone interview. “This is a good opportunity to get back into some of these growth proxies.”

---

Related Stories

• Last week’s meltdown turns spotlight on Chinese and Malaysian stocks
• UMS Holdings intends to seek secondary listing on Malaysia's stock exchange
• Malaysian associated companies of ValueMax apply for Bursa listing

---