KUALA LUMPUR (Feb 28): Gamuda Bhd will be added to the MSCI Emerging Market Index (EMI) replacing Hartalega Holdings Bhd at the close of Tuesday (Feb 28), Bursa Malaysia said in an announcement.

With the revision, Malaysia’s pro forma weightage in the MSCI EMI is estimated at 1.5%, with a total number of 34 constituents, according to the bourse's research portal Bursa Digital Research.

It said Gamuda’s pro forma weight in MSCI Malaysia Index is estimated at 1.63%.

Based on Bursa Digital Research’s note on the MSCI quarterly index review, Malaysia’s weightage within the MSCI EMI was 1.47% as at Feb 17, lower by 0.06 percentage point from 1.53% on Dec 12 last year.

“Collectively, the 34 constituents of the MSCI Malaysia Index had a combined market capitalisation of RM1.065 trillion and recorded total foreign outflows of RM808.06 million year-to-date (YTD) as at Feb 17,” the research portal said.

In the period from Dec 12, 2022 to Feb 17, Bursa Digital Research said foreign outflow was led by the financial sector.

It said three out of five top outflows were attributed to financial stocks, namely Malayan Banking Bhd (RM240.84 million), Public Bank Bhd (RM181.16 million) and CIMB Group Holdings Bhd (RM146.63 million).

“Within the materials sector, foreign funds net disposed of RM213 million worth of shares of Petronas Chemicals Group Bhd and RM111.64 million worth of Press Metal Aluminium Holdings Bhd shares,” Bursa Digital Research said.

“On the contrary, counters that topped foreign inflow were Genting Bhd (RM85.62 million), Tenaga Nasional Bhd (RM77.06 million) and Digi.Com Bhd (RM37.99 million). Digi.Com, which saw its weightage rise by 0.35 percentage point, also led in terms of YTD foreign inflow among all 34 constituents.”