Foreign buying at RM117.05m last week

PETALING JAYA: Foreign investor was net buyer last week with inflow to the tune of RM117.05 million, according to MIDF Research.

As market reopened last Tuesday, foreign investors bought RM179.11 million net of local equities, with retailers and local institutions as net sellers to the tune of RM6.01 million and RM173.10 million respectively. Last week was a four-day trading period which started on Tuesday.

“Even with the weekly positive inflow, the market saw net foreign outflow every day of the week except on Tuesday. The only inflow was to the tune of RM179.11 million. Subsequent continuous selling was not able to negate Tuesday’s inflow. Largest foreign outflow was recorded on Friday at RM38.78 million and the smallest outflow was on Wednesday at only RM4.90 million,“ MIDF said in its fund flow report today.

It was the opposite for retailers. Retailers were net buyers every day for last week except on Tuesday. Largest net buying was recorded on Thursday at RM105.81 million and smallest net purchase was on Wednesday at RM49.52 million.

Meanwhile, local institutions were net sellers every day of last week. Cumulative weekly outflow was to the tune of RM339.17 million. The biggest outflow was on opening day of last week trading period and smallest outflow was on Friday at RM173.10 million and RM34.04 million.

Since the beginning of 2021, cumulatively, retailers are the only net buyers of our equity market to the tune of RM1.98 billion. Local institutions and foreign investors are net sellers to the tune of RM1.26 billion and RM720 million respectively.

“In comparison to another three South East Asian markets that we tracked last week; Thailand is the only country that recorded net outflow last week.”

In terms of participation, the retail investors recorded a weekly decrease of -14.55% in average daily trade value (ADTV) while the foreign investors and local institutions experienced declines in ADTV of -9.68% and -19.85% respectively.

Source: The Sun Daily