Foreign funds sold a total of net RM 4.96 Bil ended 23rd Aug over 4 weeks. I am not quite worry as this is just a regional sentiment and movement. Of course, our country have structural issues to be solved in long term but this time round is a good correction.
RM depreciated close to 7-8% over USD. That makes good excuse for short term hot funds to exit the market. A deep of KLCI below 1700 without too huge of a fundamental change present a good buy opportunity. As of now, there are some bargains outside although not on big sales.
We definitely like RHBcap at RM 7.280