MIDF: Net foreign inflows last week rose to RM69.5 million compared with RM18.8 million

PETALING JAYA: Foreign funds returned to Bursa Malaysia for the third consecutive week, as net foreign inflows last week rose to RM69.5 million compared with RM18.8 million recorded in the week prior, according to MIDF Research.

Based on its weekly fund flow, the research house said that foreign investors showed a predominately negative bias, by net selling for three out of the five trading days. It net sold RM27.3 million, RM8.4 million and RM23.7 million on Monday, Tuesday and Wednesday respectively. Thursday was the largest net inflows at RM112.2 million, followed by net inflows of RM16.8 million on Friday.

MIDF said that the top three sectors that saw net foreign inflows last week were technology (RM32.3 million), financial services (RM26.8 million) and plantation (RM24.2 million), while the top three sectors that saw net foreign outflows were utilities (RM42.5 million), healthcare (RM38.3 million) as well as REITs (RM8.5 million). Year-to-date, foreigners have net sold Malaysian equities for nine out of 15 weeks, totalling RM1.83 billion.

“Institutional investors remained net buyers for the week, with a total of RM3.6 million, slightly lower than the previous week's figure of RM50.1 million. They began the week with net buying activities but recorded net selling of RM48.7 million and RM22.3 million on Thursday and Friday, respectively.

“Year-to-date, institutional investors have been net buyers for 11 out of 15 weeks, with a cumulative total of RM1.82 billion,” it said in a statement yesterday.

It added that local retailers continued their trend of net selling for the third consecutive week, amounting to RM73.1 million. Although they net bought RM6.8 million on Wednesday and RM5.6 million on Friday, they were net sellers for the rest of the week. So far this year, local retailers have net sold for eight out of 15 weeks, with a cumulative total of RM50.2 million.

In terms of participation, it said that there was an increase in average daily trading volume among local retailers by 11.1%, local institutions by 15.5% and foreign investors by 20.5%.

Source: The Sun Daily

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