KUALA LUMPUR (July 21): CGS-CIMB Securities Sdn Bhd said today local institutional investors were the largest net buyers of Malaysian equities last week based on the value of their net purchase of local shares at RM84 million.
In a note today, CGS-CIMB analyst Ivy Ng Lee Fang said local institutional investors were net buyers of shares in the financial services and technology sectors between last Monday (July 12) and Friday (July 16).
"Their top three net buys were Public Bank Bhd, Greatech Technology Bhd and Malaysia Airports Holdings Bhd (MAHB),” Ng said.
According to Ng today, local institutional investors had turned into the largest net buyers of Malaysian equities last week after they became a net seller of local equities in the preceding week.
She said today that local institutional investors' net sale value of Malaysian equities between July 5 and July 9 amounted to RM100.4 million.
For last week (July 12-July 16), local institutional investors’ net purchase of Public Bank and Greatech shares were valued at RM52 million and RM20.5 million respectively, according to her.
For MAHB, local institutional investors’ net purchase of the stock amounted to RM20 million, she said.
According to Ng, local institutional investors were also net buyers of Genting Bhd and Genting Malaysia Bhd shares at RM19.7 million and RM16.5 million respectively.
At a glance across CGS-CIMB’s note, local institutional investors’ top-three net-sell stocks last week were healthcare-related entities.
Ng said local institutional investors’ net sale value of Pharmaniaga Bhd shares stood at RM38.5 million while their net sale of Hartalega Holdings Bhd and Top Glove Corp Bhd shares amounted to RM25.5 million and RM22.1 million respectively.
Among stocks during Bursa Malaysia’s 12:30pm break today, Hartalega was up 27 sen or 3.56% at RM7.85, which gives the rubber glove manufacturer a market capitalisation of about RM26.93 billion based on the company’s 3.43 billion issued shares.
Public Bank’s share price fell one sen or 0.25% to RM4.03 with a market value of about RM78.22 billion based on the group’s 19.41 billion issued shares.