Trade Performance and Fund Flow - May 2023

▪ Total market capitalisation at end of May moderated by 1.7% MoM to RM1,685 bil (Apr: RM1,715 bil), dragged mainly by lower valuation of the Industrial and Energy sectors. Overall market capitalisation of the Industrial sector narrowed by 6.8% MoM while the energy sector was valued 4.8% lower for the same period.   

▪ Within Industrial, HAPSENG’s market capitalisation narrowed by 27% MoM to value at RM9 bil at end of May after reporting a 60% decrease in YoY earnings for its 1Q2023, followed by its removal from MSCI Emerging Market Index effective end of May. Foreign investors net sold -RM63 mil worth of HAPSENG shares while local institutions net disposed -RM13 mil from the counter during the month.  

▪ Energy sector saw its valuation being dragged across the board by lower crude oil prices. OPEC basket price showed a 9.9% decline MoM, from USD84.13 per barrel in April to USD75.82 per barrel in May. 

▪ On a positive note, ADV rebounded to RM1.89 bil, from RM1.65 bil at end of Apr. Higher trading activities were mainly attributed to foreign investors and local institutions. 

▪ Local institutions extended their buying interest for the third month. Net inflow in May improved by over one-fold MoM to +RM640 mil, supporting the selling momentum of foreign investors which recorded -RM728 mil in the same month. Activities among the local retailers remained largely muted since March, with +RM19 mil of inflow in May.