CEO Morning Brief

CIMB, Genting, Hong Leong Bank Among Foreign Investors' Top Net Buy Stocks — CGS-CIMB

Publish date: Wed, 11 Jan 2023, 12:34 PM
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TheEdge CEO Morning Brief

KUALA LUMPUR (Jan 10): CIMB Group Holdings Bhd, Genting Bhd and Hong Leong Bank Bhd are among the top net buy stocks of foreign investors, according to CGS-CIMB Research.

Foreign investors turned into the largest net buyers last week (Jan 2 to 6) after net selling in the week before. Their net buy value for Malaysian equities last week was RM72.3 million, the research outfit said in a report.

Net buy value for CIMB was RM55.9 million, followed by Genting (RM26.5 million) and Hong Leong Bank (RM25.2 million).

Shares in CIMB were up by 0.18% to RM5.72 at the time of writing on Tuesday (Jan 10), Genting was unchanged at RM4.75, while Hong Leong Bank was down 0.97% to RM20.48 a share.

The top three net sell stocks were Petronas Chemicals Group Bhd (RM17.1 million), Sime Darby Bhd (RM15.3 million), and TIME dotCom Bhd (RM14.1 million).

At the time of writing, Petronas Chemicals was down 1.08% to RM8.28, Sime Darby was 1.29% lower at RM2.29, but TIME dotCom went up 0.2% to RM4.98.

CGS-CIMB also noted that local retail investors turned into net buyers last week, with a weekly net buy value of RM53.1 million, while local institutional investors turned into net sellers (RM32.2 million).

On the other hand, local nominees remained as net sellers for the third week, with their net sell value last week falling 47.7% to RM51.3 million.

Source: TheEdge - 11 Jan 2023

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