Over the past month, the KLCI rose 2.6% mom in Apr 24, rebounding from March’s decline.
CGS International (CGS), in its Malaysia Strategy Note today (May 6), said the KLCI rose 2.6% mom to end Apr 24 at 1,576 pts, after falling 1.0% mom in Mar 24.
Aside from outperforming both the MSCI Emerging Market Index (+0.3% mom) and the MSCI All Country Asia ex-Japan Index (+1.1% mom), KLCI also outperformed all other MIST (Malaysia, Indonesia, Singapore, and Thailand) markets, with Singapore’s SET (+2.1% mom) the only other MIST market to post gains in Apr 24.
Meanwhile, Thailand’s SET and Indonesia’s JCI both fell 0.7% mom.
Foreign investors stayed net sellers in Apr 24
Foreign investors stayed net sellers for the second consecutive month with net sell flows of RM1.4bn in Apr 24.
Their net sell flow in Apr 24 narrowed 52.2% mom compared to Mar 24’s RM2.9bn while recording net buy flows of c.RM1.0bn in the last two weeks of Apr 24.
Local institutional investors stayed net buyers in Apr 24, with net buy flow falling 29.0% to RM2.5bn.
Local retail investors remained net sellers for the tenth month in a row, with their net sell flows rising 241% mom to RM996.8m in Apr 24.
YTL Power and YTL Corp drove KLCI gains in Apr 24 In Apr 24, all of Bursa’s key indices recorded gains. 11 out of Bursa Malaysia’s 13 sectorial indices also posted gains, with Construction (-0.3% mom) and Finance (-0.3% mom) the only two sectors falling in Apr 24.
The three best-performing sectorial indices in Apr 24 on a mom basis were Utilities (+7.3%), Healthcare (+6.4%), and Industrial Production (+5.3%) while the three worst-performing sectors were Finance (-0.3%), Construction (-0.3%), and Technology (+0.7%).
Among the KLCI constituents, 23 companies posted share price gains, with the three best performers on a mom basis being YTL Power (+18.9%), YTL Corp (+17.9%), and Press Metal (+15.5%).
