Foreign net selling on Bursa at RM579.73m last week

PETALING JAYA: Foreign investors remained net sellers last week, which saw outflow amounting to RM579.73 million, the sixth consecutive week of net selling by foreign investors.

MIDF Research said as the market opened last Monday, foreign investors were net sellers amounting to RM139.06 million. Meanwhile, local institutions bought RM48.18 million net of local equities, with retailers were net buyers to the tune of RM90.88 million.

“Foreign investors were net seller every day of the week. Largest foreign outflow was recorded on Friday with the smallest outflow on the same day to the tune of RM325.13 million and RM24.64 million, respectively,” MIDF said in its fund flow report.

As for the retailers, they were net buyers every day last week. Largest net buying by the retailers was recorded on Monday at RM90.88 million and smallest net buying was on Thursday to the tune of RM32.69 milion. Cumulatively, for the week, retailers net bought RM258.80 million worth of equities in Bursa.

Meanwhile, local institutions recorded cumulative weekly net buying was to the tune of RM320.93 million. Local institutions were net buyers on Monday, Wednesday and Friday with the largest net buying on Friday to the tune of RM279.86 million.

“Since the beginning of 2021, cumulatively, retailers have been the only net buyers of the equity market to the tune of RM8.97 billion. Local institutions and foreign investors were net sellers to the tune of RM3.43 billion and RM5.54 billion, respectively,” said MIDF.

In terms of participation the retail investors, local institutions and the foreign investors recorded a weekly movement of 18.95%, 24.52% and 5.86% respectively in average daily trade value.