Public Bank has built a superior record in prudent underwriting and good risk controls in the past decade.
KUALA LUMPUR: Net selling by foreign funds rose to RM9.8bil since January but it still remains as the country with the second lowest outflow amongst the Asean markets monitored by MIDF Research.
It said on Monday, October 22, 2018 foreign funds were net sellers on Bursa at RM128.7m in week ended Oct 19. For October, net selling totalled RM1.2bil, it said in a research note.
MIDF Research said international funds continued to sell Malaysian equities for the third week running albeit at a slower pace.
It said the RM128.7mil last week was about one eighth smaller than the amount withdrawn in the preceding week.
Foreign funds were net sellers on four days. Offshore funds sold -RM77.9mil net on Monday, pulling the FBM KLCI 0.12% lower to end at 1,729. The next day, it shrank to just -RM17.3mil before spiking up to -RM31.8mil on Wednesday.
Bursa’s nine-day foreign selling streak came to an end on Thursday as offshore funds acquired RM33.3mil net. However, foreign investors were back in selling mode on Friday, withdrawing -RM35mil net after technology stocks slumped again.
Public Bank Berhad
registered the highest net money inflow of RM65.78mil last week. Its share price matched the FBM KLCI’s 0.08% weekly gain.
Genting Plantation Berhad recorded the second highest net money inflow of RM18.92mil. Its share price was 1.05% higher for the week, outperforming the KLCIwhich was 0.08% higher.
Tenaga Nasional saw the largest net money outfl ow of –RM19.22mil last week. Its stock price lost -0.27%, underperforming vis-àvis the KLCI which added 0.08% during the review week.
Fraser and Neave Holdings recorded the second largest net money outflow –RM11.25mil during the week under review. Its share price fell -2.33% for the week, underperforming the market benchmark which had a 0.08% weekly advance.
Malayan Banking saw the third largest net money outfl ow of –RM9.38mil in the review week. Its share price ended 0.21% higher during the week, outperforming the KLCI which had a 0.08% weekly gain.
MIDF Research said net money outflow amidst advancing share price may indicate a sell on strength (SOS) stance among some investors.
Limited time offer:
Just RM5 per month.
