PETALING JAYA: Foreign investors have turned net sellers for the first time after nine consecutive weeks of net buying.

       They had sold RM60mil worth of equities last week from a buying position of RM312mil two weeks prior, according to statistics.

       “As a result, their net buying in the year-to-date of Malaysian equities fell to RM6.9bil. This represents only the third week this year where they were net sellers.

       “Last week, they were net sellers in healthcare, consumer products and financial services. Their top three net sell stocks were Tenaga Nasional Bhd, Sime Darby Bhd and Top Glove Corp Bhd,” CGS-CIMB Research said in its report.

       Foreign shareholding of Malaysian equities rose 0.2% percentage point month-on-month to 20.3% as of end-March.

       “The declining trend in foreign shareholdings started in May 2018, after the 14th General Election on May 9, 2018, when Pakatan Harapan won a simple majority in Parliament: the first change in government in Malaysia’s history,” it said.

       Since then, the research house said the foreign shareholding level has fallen 4.1% percentage points from its peak of 24.2% in March 2018 to a trough of 20.1% in February due to the continued political uncertainties.

       However, recently there had been strong interest by foreign investors as indicated by the foreign shareholding level to 20.3% in March.

       In the year-to-date (y-t-d) period, as of April 15, it noted that foreign investors have net bought RM6.9bil of Malaysian equities.

       Industrial products and services had been a top net buy sector among the foreign investors last week and it had been a net buy since the year started, the research house noted.

       Plantation had been the second-largest net buy sector for the 10th consecutive week.

       CGS-CIMB Research said the top net sell sector was the healthcare since the year started.

       Consumer products and services had been the second-largest net sell sector last week for the foreign investors.

       Meanwhile, local institutional investors recorded their 10th consecutive week of net selling in the equities market.

       “Their net selling value fell 44% week-on-week to RM176mil, raising their y-t-d net selling to RM7.5bil,” the research house said.

       They were net sellers of the technology and industrial products sectors and their top three stocks sold were Sime Plantation Bhd, Petronas Chemicals Bhd and CIMB Group Holdings Bhd.

       “Local nominee investors posted their fourth consecutive week of net buying – their net buy value rose to RM58.7mil from RM3mil two weeks ago,” it said.

       Local retailers were net buyers of the technology and healthcare sectors with top stocks being Malayan Banking Bhd, Inari Amertron Bhd and Genting Bhd.

       “The retailers’ top three net sell stocks last week were Hap Seng Plantations Holdings Bhd, Hibiscus Petroleum Bhd and Datasonic Group Bhd. In the y-t-d, the top three net buy companies of the retail investors were Tenaga Nasional Bhd, Inari and Top Glove,” CGS-CIMB Research said.