Small and mid cap stock bargains
"You won’t see it going up in a straight line. However, the time to buy is when nobody is buying ... ," says Affin Hwang Asset Management Bhd managing director Teng Chee Wai.
PETALING JAYA: With the small and mid cap stocks experiencing a “meltdown” over the last eight weeks, the time to buy has arrived.
The price of small and mid cap stocks have significantly retraced to multi-year lows on the back of panic selling that doesn’t really make sense. This has provided an opening to buy, said Affin Hwang Asset Management Bhd managing director Teng Chee Wai.
“I feel very tempted to buy on dips. I am not saying we are out of the woods. The volatility will continue and a rebound will likely be range bound. You won’t see it going up in a straight line. However, the time to buy is when nobody is buying. Right now the market is reacting on a short-term basis. We should look at it over the long term and ignore the noises,” says Teng, who manages a total of some RM47bil.
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