From Jan 26 to 29, investors purchased RM29.02 million worth of the top 20 stocks on Bloomberg’s buying-on-weakness list, while RM7.25 million flowed out of the top 20 stocks on its selling-on-strength list.

Public Bank-Foreign, which topped the buying-on-weakness list, lost six sen or 0.5% during the period, which resulted in investors acquiring RM7.53 million worth of the stock. As at Jan 29, Public Bank-Foreign stood at RM12 apiece.

Public Bank Bhd also saw investors buying RM2.73 million worth of its shares after the stock fell by 0.83% w-o-w. Public Bank’s share price had shed 10 sen over the week and closed at RM11.88 on Jan 29.

Investors purchased RM4.32 million worth of Maxis Bhd shares after the stock declined two sen to end the week at RM5.38. This represented a w-o-w drop of 0.37%.

DiGi.Com Bhd, also saw buying interest after its share price lost two sen, or about 0.09%, during the period in review. As a result, investors bought RM1.71 million worth of the company’s shares. On Jan 29, DiGi closed at RM21.86.

AEON Co (M) Bhd’s share price declined by 0.76%, a drop of four sen, to close the week at RM5.25. This weakening in its share price resulted in investors acquiring RM1.31 million worth of the shares.

PLUS Expressways Bhd led the selling-on-strength list as investors sold RM2.39 million worth of shares between Jan 26 and 29. The counter gained one sen, or 0.3%, during the period in review to close at RM3.31.

PLUS is proposing to acquire a majority stake in India-based Indu Navayuga Infra Project Pvt Ltd for a total of RM74 million, according to its announcement to Bursa Malaysia. Indu Navayuga holds a concession to widen and maintain an existing highway in Tamil Nadu.

According to PLUS, on the first commercial operation date (COD), Indu Navayuga shareholders will sell a 49% stake for RM57.3 million, with the remaining 25% stake worth RM16.7 million to follow on the third anniversary of the COD.

Investors sold RM760,000 worth of Kumpulan Europlus Bhd shares after they rose by 4.5 sen, or 10.84%, over the period. The counter closed at 46 sen on Jan 29.

Mulpha International Bhd saw its share price gain 2.5 sen between Jan 26 and 29 to end the week at 50 sen apiece. This 5.32% change resulted in investors liquidating RM520,000 worth of Mulpha shares.

Mulpha saw its share price jump after EON Capital Bhd announced that it was rejecting Hong Leong Bank Bhd’s RM4.92 billion offer to acquire its entire assets and liabilities on Feb 2.

Mulpha had previously announced its intention to diversify into financial services and was seeking Bank Negara’s permission to begin negotiations and make an offer for EON Cap.

Investors sold RM410,000 worth of shares in Hong Leong Industries Bhd after the counter rose three sen, or 0.63%. The stock closed at RM4.79 on Jan 29.

Shell Refining Company (Federation of Malaya) Bhd rose 14 sen, or 1.32%, over the week to end at RM10.74. This triggered an outflow of RM380,000 from the counter.

This article appeared in Capital page, The Edge Malaysia, Issue 792, Feb 8-14, 2010