FOREIGN investors, who have remained the largest equity net sellers for the past six weeks on the local stock exchange, were the largest net buyers year-to-date (YTD) of Tenaga Nasional Bhd (TNB). On the flip side, they were also the largest net sellers for plantation concern Kuala Lumpur Kepong Bhd (KLK).

On Nov 28, foreign investors poured a net RM2.63 billion into TNB, nearly five times the amount invested in the second-largest counter, CIMB Group Holdings Bhd, according to CIMB Securities Sdn Bhd’s weekly wrap and fund flows for the week ended Dec 2.

They net sold RM971.8 million worth of KLK shares during the same period, followed by Public Bank Bhd (RM670.7 million) and RHB Bank Bhd (RM660.8 million).

Yesterday (Dec 3), TNB closed 10 sen lower at RM13.38, its lowest point since early August. KLK closed four sen down at RM21.52.

According to the report, foreign investors were the top net buyers in the property sector last week, with Sime Darby Property Bhd, Tanco Holdings Bhd and YNH Property Bhd being their top net-buy stocks.

The report said foreign investors continued as net buyers in the sector for the 12th straight week, but reduced their net buy value by 58% week-on-week (WoW) to RM18.5 million.

Real estate investment trust was foreign investors’ second-largest net buy sector last week, with IGB Reit, Pavilion REIT and Sunway Reit as their top net buy.

In finance, foreign investors were the largest net sellers last week, with Malayan Banking Bhd (Maybank), RHB and Public Bank topping the list. — TMR