These cards will offer a 5% cash back on online, dining, entertainment and departmental stores transactions, the bank said in a press release.
KUALA LUMPUR: Foreign funds continued to show their faith in the Malaysian stock market with their net buying extending for the 14th straight week, with the latest at RM576.6mil in the week ended May 12.
MIDF Equities Research said on Monday daily net buying of local equities by foreigners has undeniably become a new normal on Bursa. It had not been proven otherwise last week.
“Excluding off market transactions, the amount purchased last week was RM576.6m, almost identical to that the week prior.
“Bursa benefited from the sizeable flow to South East Asian emerging markets last week, especially to Jakarta,” it said.
MIDF Research said foreign participation remained high on Bursa, although it was slightly affected by market closure on Wednesday. Foreign average daily trade value (ADTV) declined by 2.0% to RM994.9mil, which is still a healthy level.
“Retailers were marginal net sellers last week but the overall retail market remained vibrant. Retail participation stayed above RM1bil at RM1.18bil, albeit 7.9% lower than the week before. This is the ninth week this year that retail participation has exceeded the RM1bil mark,” it said.
Overall, Public Bank stocks were the beneficiary of the highest net money inflow of RM19.14mil last week. Its share price fell -0.10%, underperforming against the FBM
KLCI which increased by 0.74% during the week under review.
“On this score, it is notable that the net inflow amidst declining share price indicates a buy on weakness stance among some investors.
“The second highest net money inflow was into MAHB which amounted to RM14.06mil. The company announced that the number of passengers increased by 14.7% on-year to 10.7 million in April 2017,” it said.
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