Waiting for fresh leads (ext: Edge)

KUALA LUMPUR: The selling on Bursa Malaysia was well-absorbed on Aug 5 as institutional players were in the market to pick up selected stocks and big capitalsied counters. This was despite the more cautious key Asian markets.

Insider Asia said the lack of profit taking, even after recent sharp gains, suggested investor risk appetite has returned and many are just waiting for fresh leads to drive the market higher.

After market close, the government announced that Malaysia’s exports fell at the slowest pace in three months in June, adding to signs of a recovery in world demand as the global recession eases. Exports fell 22.6% from a year ago to RM45.1 billion after declining 29.7% in May. This was better than the 25% decline in a survey carried out by economists, according to Bloomberg.