Foreigners buy equity worth RM915m


Foreigners continue to pour money into the stock market with purchasers valued at RM915.1 million last week, the highest since March 2017, as investors bet further rise of Malaysian equities which have been trailing other countries.

MIDF Amanah Investment Bank Bhd in a report said weekly net fund inflow jumped 81.95% from the previous week’s RM165.1 million net inflows.

The rise of the stock market in the last two weeks has been backed by foreign investors seeking to capitalise on the prospects for further increase.

Sime Darby Bhd recorded the highest net inflow valued at RM5.67 million for the week.

Its share price rose as much as 25.34% compared to FTSE Bursa Malaysia KLCI (FBM KLCI) 1.18% registered increase.

Yesterday, Sime Darby share price rose as high as RM2.91, but ended the day two sen lower at RM2.79.

Foreign investors took position in CIMB Group Holdings Bhd shares valued at RM4.9 million, according to the MIDF report.

CIMB share closed 12 sen higher at RM6.82.

Investors also bought shares worth RM3.37 million in Sime Darby Plantation Bhd.

Money aslo flowed into counters like KLCCP Stapled Group (RM3.34 million), Hong Leong Bank Bhd (RM3.33 million), IHH Healthcare Bhd (RM3.29 million), Lotte Chemicals Titan Holding Bhd (RM2.80 million), Sunway Bhd (RM2.22 million), Malaysia Airports Holdings Bhd (RM1.63 million) and Sime Darby Property Bhd (RM1.61 million).

Petronas Dagangan Bhd recorded the largest net outflow with RM23.07 million, while the largest listed company on the bourse based on market capitalisation, Malayan Banking Bhd, registered RM9.49 million net outflows.

Other counters which registered outflows were Petronas Chemicals Group Bhd (RM6.12 million), Fraser and Neave Holdings Bhd (RM5.35 million), Bank Islam Malaysia Bhd (RM4.29 million), Sapura Energy Bhd (RM3.03 million), Press Metal Aluminium Holdings Bhd (RM2.92 million), Kuala Lumpur Kepong Bhd (RM2.54 million) and Axiata Group Bhd (RM2.39 million).

FBM KLCI ended the week at 1,818 points, the highest since May 2015.

Local institution registered a large net fund outflow of RM841.1 million last week compared to the previous week’s RM23.2 million.