IN the 1996 movie Jerry Maguire, Jerry, played by Tom Cruise, was left with a single client Rod Tidwell, played by Cuba Gooding Jr.
Rod was nevertheless a difficult client to please and was seeking a new contract to not only keep his career but his expensive lifestyle. Rod asked Jerry to make a promise to enable him to retain Jerry as an agent. The promise was for Jerry to show Rod the money, which indirectly means Rod wanted a big contract. Rod asked Jerry to utter the words “Show me the money, show me the money”.
While this week’s article is not “showing you the money”, it is giving you some ideas where money has been going the past couple of months in the local bourse, or in other words, the money flows into stocks. We all know that the foreign fund managers have been net sellers in the market over the past four months and in fact were net sellers of up to RM10.43bil year-to-date as at April 28.
As any selling must be met with buying interest, it is not surprising that our local institutions have been big net buyers at the other end of the stick with about RM6.34bil, while local retailers too have been net buyers with a total of RM4.08bil.
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