KUALA LUMPUR (May 18): Total market capitalisation across the local bourse rose by 1.7% month-on-month (m-o-m) to RM1.83 trillion as at the end of April, driven by the plantation sector following the crude palm oil (CPO) export ban by Indonesia.

In a market update (trade performance and fund flow) published on Tuesday (May 17), Bursa Malaysia Securities Bhd highlighted that average daily volume (ADV) moderated to RM2.14 billion in April from RM2.96 billion reported in the previous month, dragged by weaker trading activities among local institutional investors.

Meanwhile, foreign inflows tapered to RM825 million in April as compared to RM3.28 billion in March.

According to Bursa Malaysia, foreign funds emerged as net buyers in financial services, plantation and industrial sectors, and as net sellers in healthcare, technology, and telco and media sectors in April. 

“On financial services, foreign inflow continued for the fourth month in anticipation of the country’s economic recovery.

“Foreign investors further increased their stakes in plantation stocks with RM246 million, from RM962 million in March, in response to the CPO export ban from Indonesia,” it said. 

On stocks, foreigners emerged as net buyers in the following counters — Public Bank Bhd, Malayan Banking Bhd, Petronas Chemicals Group Bhd, Sime Darby Plantation Bhd and RHB Bank Bhd. 

On the other hand, foreign funds emerged as net sellers in Top Glove Corp Bhd, Inari Amertron Bhd, Kuala Lumpur Kepong Bhd, Dagang NeXchange Bhd and Tenaga Nasional Bhd.