Foreign funds sell RM101m in equities
KUALA LUMPUR: Foreign investors were the net seller of local equities last week, with an outflow of RM101.07 million.
MIDF Research said the outflow had broken a two-week streak of net buying.
The firm said foreign investors had bought RM26.11 million net of local equities last week, with retailers and local institutions being net buyers and net sellers to the tune of RM142.02 million and RM168.17 million, respectively.
“Foreign investors were net buyers every day except Tuesday and Friday last week. Nonetheless, total inflow did not manage to reverse the selling momentum last week, especially the net selling on Friday,” MIDF Research said in its weekly fund flow report yesterday.
The government’s Strategic Programme to Empower the People and Economy, with a new fiscal injection of RM11 billion last week, had provided some impetus to our equity market, said MIDF Research.
However, this was mitigated by the impact of rising United States
bond yields and fears of rising inflation there.
Retailers were net buyers every day last week with the largest net buying recorded on Monday at RM142.05 million and the smallest net purchase on Thursday at RM59.41 million.
Meanwhile, local institutions were net sellers every day of the week, except on Friday.
MIDF Research said the mixed
ending was recorded after six weeks of net selling this year.
Cumulative weekly outflow was RM421.49 million.
In terms of participation, retail investors and local institutions recorded a weekly decrease of 12.19 per cent and 21.09 per cent, respectively, in average daily trade value (ADTV).
Meanwhile, foreign investors’ ADTV increased by 5.13 per cent.