PETALING JAYA: Foreigners reversed their net selling trend of seven weeks by net buying RM292.67 million of Malaysian equities last week following the shortened trading week due to the Deepavali festivities.
MIDF Research said foreign investors were net buyers for every day of the week, with the largest inflow seen on Thursday at RM124.9 million. Tuesday, Wednesday and Friday saw inflows of RM51.84 million, RM82.36 million and RM33.57 million respectively.
“The top three sectors which saw net inflows by foreign investors last week were financial services at RM246.2 million, telecommunications & media at RM60.8 million and consumer products & services at RM37.4 million.
“Meanwhile, the three sectors with net outflows were plantation at RM35.4 million, construction at RM31.7 million and transportation & logistics at RM19.3 million,” MIDF said in its fund flow report today.
On the contrary, local institutions turned net sellers after five weeks of net buying. They net sold every trading day of the week, resulting in a net selling of RM195.89 million last week. The heaviest outflow was on Thursday at RM99.15 million. They also net sold RM15.18 million on Tuesday, RM19.59 million on Wednesday and RM61.97 million.
Meanwhile, local retailers remained net sellers at RM96.77 million. They net sold for three consecutive days before briefly turning net buyers on Friday. The net selling amount was RM36.66 million on Tuesday, RM62.76 million on Wednesday and RM25.75 million on Thursday before net buying RM28.4 million on Friday.
Additionally, international funds have been net buyers for 25 out of the 43 weeks of 2022, with a total net inflow of RM6.03 billion. Local institutions were net sellers for 30 out of 43 weeks, with a total net outflow of RM8.16 billion. Local retailers have been net buyers for 27 out of 43 weeks of 2022. Year-to-date, they have been net buyers at RM2.12 billion.
In terms of participation, there was a decline in average daily trade value among foreign investors by 18.96%. As for local retailers and institutions, there were increases of 8.77% and 4.81% respectively.