Foreign investors sold RM320.3m of Malaysian equities last week

PETALING JAYA: Foreign fund outflows continued on Bursa Malaysia for the fourth consecutive week, as foreign investors net sold RM320.3 million of Malaysian equities last week compared with RM61.5 million net outflow in the previous week, according to MIDF Research.

Based on its weekly fund flow report, it said foreign investors were net sellers for the whole of last week except on Tuesday, when they net bought RM17.2 million. The heaviest outflow observed was on Thursday at RM196.3 million.

MIDF said local institutions turned net buyers for the week at RM182.7 million after net selling RM7.9 million the week before. They were net sellers on Monday and Tuesday at RM11.9 million and RM29.6 million respectively before turning net buyers on Wednesday and Thursday at RM69.7 million and RM167.4 million respectively. They then net sold again at a rate of RM12.9 million on Friday.

Additionally, it said local retailers maintained their net buying spree for the fourth week coming, net buying RM137.5 million. They were net buyers every day of the week, the highest being on Monday amounting to RM44.6 million.

“To date, international funds have been net buyers for 17 out of the 26 weeks of 2022, with a total net inflow of RM6.07 billion. Local institutions were net sellers for 20 out of 26 weeks, with a total net outflow of RM7.81 billion. Local retailers have been net buyers for 17 out of 26 weeks of 2022. Year-to-date, they have been net buyers at RM1.74 billion,” it stated.

In terms of the sectors, industrial products and services, technology and energy saw the highest net outflow by foreigners amounting to RM124.6 million, RM83 million and RM60.1 million. Biggest net buying by foreigners was utilities with RM19.6 million.

“In terms of participation, there was a growth in average daily trade value (ADTV) among foreign investors by 10.14%. Both retail investors and institutional investors saw declines in ADTV for the week by 7.56% and 13.85% respectively,” it added.