KLCI fell 2.3% wow last week due to concerns over tighter monetary policy and the weaker China economy, CGS CIMB said in a note
It said that the worst performing sectors last week were technology (-4.8% wow), plantation (-3.3% wow), and industrial (-2.8% wow). Foreign investors were the only net sellers last week.
The stockbroking firm said that foreign investors were the only net sellers last week. They posted their largest weekly net sell YTD of RM365.7million last week, despite the market being open for only two days last week due to holidays.
It said that as a result, their YTD net buy of Malaysian equities fell to RM6.9billion. They were net sellers in the financials and telco sectors; their top three net sell stocks were CIMB, Petronas Chemical, and Public Bank.
The stockbroking firm said that local institutional investors posted their largest weekly net buy YTD of RM130.4million, after 12 consecutive weeks of net sells, lowering their YTD net sell of Malaysian equities to RM7.9bn. They were net buyers of the financial services and consumer products sectors; their top three net buy stocks were CIMB, Petchem, and Genting.
It said that CIMB was the largest net buy stock for local institutional investors but the largest net sell stock for foreign institutional investors. Hartalega was the largest net buy stock for foreign institutional investors but the largest net sells for nominee investors. Petronas Chemical was the second-largest net buy stock for local institutional investors and the second-largest net sell stock for foreign institutional investors.
