PETALING JAYA: Foreign investors net sold RM380.8 million worth of Malaysian equities on Bursa Malaysia last week, 89.6% higher than in the week prior, according to MIDF Research.
It was the fourth consecutive week of net foreign selling, it said, noting that it was a shortened trading week of four days due to the Federal Territory Day holiday on Wednesday. Foreign investors net bought RM35.6 million on Thursday, but net sold RM48.6 million on Monday, RM98.9 million on Tuesday and RM68.1 million on Friday.
“There may be renewed signs of political uncertainties that have emerged following the sacking and suspension of senior and influential Umno members, as the party is part of the unity government.
“The appointment of the prime minister’s daughter as his economic and senior adviser also sparked debates from various parties,” MIDF Research said in a statement today.
The research house said the top three sectors which saw net inflows by foreign investors last week were consumer products and services at RM58.7 million, technology at RM23.7 million as well as telecommunications and media at RM15.7 million. The bottom three sectors with net outflows were financial services at RM174.0 million, healthcare at RM43.3 million and plantation at RM35.9 million. Year-to-date, foreign investors have net sold RM89.1 million.
MIDF Research said that local institutions maintained their streak of net buying to RM130.6 million last week. Local institutions net bought RM9.6 million on Monday, RM59.3 million on Tuesday, RM0.5 million on Thursday and RM61.2 million on Friday. Year-to-date, local institutions have net bought RM816.0 million.
“Local retailers turned net buyers last week, reversing the net selling trend of three consecutive weeks. They net bought RM49.4 million as of last Friday. They only net sold RM36.0 million on Thursday but were net buyers of RM38.9 million on Monday, RM39.6 million on Tuesday and RM6.9 million on Friday,” it said.
In terms of participation, there was an increase in average daily trading volume across the board by 64.7%, 19.6% and 7.8% from foreign investors, local institutions and local retailers respectively.
