CEO Morning Brief

Local Bourse Market Cap Down Slightly in March as Investors Booked Profit, Says Bursa

Publish date: Tue, 19 Apr 2022, 12:00 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (April 18): The total market capitalisation of the local bourse slightly moderated to RM1.795 trillion in March this year compared with RM1.81 trillion reported in the previous corresponding month.

In a statement on Monday (April 18), Bursa Malaysia said the reduction was due to investors booking their profit in the plantation and energy sectors, subsequent to the record high commodity prices last month.

Meanwhile, foreign inflows further accelerated to RM3.29 billion in March as foreign investors turned net buyers in financial services, industrial and plantation sectors.

However, foreign investors emerged as net sellers in the technology, telecoms and utility sectors.

"In March, total average daily volume further escalated to RM2.96 billion, with strengthened trading activities among foreign and local institutional investors," it said.

In terms of stocks, counters that saw the biggest foreign inflows were Petronas Chemicals Group Bhd (RM1.1 billion), Public Bank Bhd (RM935 million), Malayan Banking Bhd (RM348 million), Kuala Lumpur Kepong Bhd (KLK) (RM345 million) and Hong Seng Consolidated Bhd (RM174 million).

Foreign investors further increased their stakes in plantation stocks with a total of RM962 million inflow in March, despite the moderation in crude palm oil price after hitting its peak last month.

Meanwhile, local institutions sold RM692 million worth of plantation stocks, while local retailers offloaded RM181 million in the same month.

The stock exchange also highlighted selected plantation stocks, such as KLK, which saw a RM345 million inflow by foreign investors, while local institutions took profit, resulting in an outflow of RM342 million.

Source: TheEdge - 19 Apr 2022

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