PETALING JAYA: Foreign investor was net seller again last week with outflow to the tune of RM466.42 million, according to MIDF Research.
As market reopened on Monday last week, foreign investors bought RM2.62 million net of local equities, with retailers and local institutions as net buyer and seller to the tune of RM66.55 million and RM69.17 million respectively.
“Contrary to expectation, the announcement on the arrival of Pfizer-BioNTech Covid-19 vaccine in Malaysia on Sunday did not spark massive inflow of foreign investors from our equity market. Foreign investors were net sellers every day except Monday during last week. The inflow was insufficient to reverse the negative momentum. Largest foreign outflow was recorded on Thursday at RM189.58 and the smallest outflow was on Tuesday at only RM16.37 million,“ MIDF said in its fund flow report today.
It was the opposite for retailers. Retailers were net buyers every day last week. Largest net buying was recorded on Thursday at RM199.84 million and smallest net purchase was on Monday at RM66.55 million.
Meanwhile, local institutions were net sellers every day of the week, except on Wednesday. The mixed ending was recorded after two weeks pattern of net selling this year. Cumulative weekly outflow was to the tune of RM232.64 million. The biggest outflow was on Tuesday of last week trading period and smallest outflow was on Thursday at RM10.26 million.
“Since the beginning of 2021, cumulatively, retailers are the only net buyers of our equity market to the tune of RM2.81 billion. Local institutions and foreign investors are net sellers to the tune of RM1.58 billion and RM1.22 billion respectively.
“In comparison to another three South East Asian markets that we tracked last week; all markets recorded net outflow last week,“ said MIDF.
In terms of participation, the retail investors, foreign investors and local institutions recorded a weekly increase of 64.75%, 49.04% and 48.20% in average daily trade value respectively.