PETALING JAYA: Foreigners continued to net sell Malaysian equities last week, marking the fifth consecutive week of net foreign fund outflows from Bursa Malaysia, with net outflow of RM336.9 million, which is half the amount seen in the week prior at RM740.6 million.
MIDF Research said the only day that it saw net inflow from foreign investors was on Tuesday at RM59.64 million after being net sellers for 14 straight trading days. However, the net selling trend continued again on Wednesday and up to Friday.
“The bulk of the foreign net outflows were on Friday at RM143.36 million and Monday at RM112.42 million. Meanwhile, foreigners also net sold on Wednesday and Thursday at RM68.05 million and RM72.71 million respectively.
“The top three sectors which saw net outflows by foreign investors last week were financial services at RM310.8 million, technology at RM52.7 million and consumer products and services at RM42.1 million. The top three sectors were construction at RM117.8 million, telecommunications and media at RM32.5 million and energy at RM27 million,” it said in its fund flow report.
The research house said local institutions were net buyers for the third consecutive week, with net buying at RM413.47 million last week. The latter were net buyers every day of the week except on Tuesday, when it net sold RM33.04 million. The net buying days were consistently above the RM100 million mark, with the highest amount observed on Friday at RM137.71 million.
Last week, local retailers turned net sellers at RM76.56 million after net buying for the past three weeks. It net sold from RM26.6 million, RM33.01 million and RM31.93 million on Tuesday, Wednesday and Thursday, and were net buyers on Monday and Friday at RM9.33 million and RM5.65 million.
To date, international funds have been net buyers for 24 out of the 40 weeks of 2022, with a total net inflow of RM6.29 billion. Local institutions were net sellers for 29 out of 40 weeks, with a total net outflow of RM8.47 billion. Local retailers have been net buyers for 26 out of 40 weeks of 2022. Year-to-date, it has been net buyers at RM2.19 billion.
“In terms of participation, there was a decline in average daily trade value across the board, led by foreign investors at 31.53%, local institutions at 17.76% and retailers at 9.89%,” it said.