Public Bank, Maybank, PetChem top net money inflow last week

KLK, IHH Healthcare and Hartalega, meanwhile, are the largest net money outflow counters for the same period

PUBLIC Bank Bhd, Malayan Banking Bhd (Maybank) and Petronas Chemicals Group Bhd (PetChem) were the top three counters with the highest net money inflow for the week ended Nov 11, 2022.

In the same period, foreign investors were net buyers of Malaysian equities at a rate of RM425.62 million, after briefly turning net sellers the week prior, according to MIDF Amanah Investment Bank (MIDF Research).

Public Bank recorded the highest net money inflow for the week at a rate of RM7.77 million. Its share price was 2.06% higher for the week, just slightly underperforming the local bourse that rose 2.08% last week.

Maybank was second at RM7.29 million, followed by PetChem with net money inflow at RM6.31 million.

On the flip side, the report said Kuala Lumpur Kepong Bhd (KLK) saw the largest net money outflow of RM4.34 million last week. Its share price was 1.34% higher for the week, underperforming the FTSE Bursa Malaysia KLCI.

The net money outflow amid a rising share price may indicate a sell on strength stance among some investors, the report added. It was trailed by IHH Healthcare Bhd and Hartalega Holdings Bhd.

In its money flow report, MIDF Research said foreign investors were net buyers for every day of the week, with the largest inflows seen last Thursday and Friday at RM97.42 million and RM105.96 million respectively.

The top three sectors which saw net inflows by foreign investors last week were financial services at RM137.6 million, consumer products and services at RM133 million and healthcare at RM70.4 million. Meanwhile, the three sectors with net outflows were construction at RM10.2 million, transportation and logistics at RM4 million and real estate investment trust at RM1.4 million.

Local institutions turned net sellers to the tune of RM252.04 million, after briefly turning net buyers the week before. Local retailers were also net sellers for the week, net selling RM173.57 million. — TMR / pic Bloomberg