KUALA LUMPUR, Jan 16 — Foreign investors started off the second week of 2023 on a negative note with net outflows of RM46.8 million for the week.
MIDF Research said the progressive net selling was recorded at RM4.7 million, RM12.0 million and RM73.3 million of Malaysian equities from Monday to Wednesday, before gradually turning to net buyers at RM2.3 million and RM40.98 million on Thursday and Friday.
“However, on a year-to-date basis, foreign investors recorded net inflows of RM25.6 million in 2023,” it said in a research note today.
The research firm said the top three sectors, which saw net inflows by foreign investors last week were industrial products and services at RM39.2 million, technology at RM24.0 million and healthcare at RM17.0 million.
The three sectors with the largest net outflows were consumer products and services at RM77.9 million, telecommunications and media at RM26.9 million and financial services at RM20.6 million.
Meanwhile, local institutions had net bought RM339.4 million last week.
They were net buyers every day last week with the highest net inflow on Thursday at RM119.3 million and the lowest net inflow on Friday at RM26.7 million.
On a year-to-date basis, local institutions had net bought a total of RM215.0 million of Malaysian equities in 2023, higher than foreign investors.
“The local interest from local institutions could be due to the continuous upbeat momentum in our domestic economy and modest expansion in the external sector,” MIDF Research said.
However, it said local retailers were net sellers daily with the highest net outflow recorded on Thursday at RM121.6 million and the lowest net outflow was on Wednesday, at RM24.9 million.
For the week, retailers had net sold RM292.6 million.
Year-to-date, the local retailers had disposed RM240.5 million worth of Malaysian equities.
“In terms of participation, there was an increase in average daily trading volume among retail investors, local institutions and foreign investors at 13.7 per cent, 34.6 per cent and 38.1 per cent, respectively,” MIDF Research added. — Bernama