Foreign investors remain net sellers last week

As the market reopened last Monday, foreign investors sold RM96.6 million net of local equities, with retailers and local institutions as net buyers to the tune of RM59.1 million and RM37.5 million, respectively. MIDF Research

KUCHING: Foreign investors remained net sellers for the week ended July 16, which saw outflow amounting to RM173.93 million, analysts gather in the latest fund flow report.

According to the research arm of MIDF Amanah Investment Bank Bhd (MIDF Research), this was the fourth consecutive week of net selling by the foreign investors.

“As the market reopened last Monday, foreign investors sold RM96.6 million net of local equities, with retailers and local institutions as net buyers to the tune of RM59.1 million and RM37.5 million, respectively,” MIDF Research said.

“Foreign investors were net seller every day last week except on Thursday.

“Largest foreign outflow was recorded on Monday with the smallest outflow on Tuesday to the tune of RM96.6 million and RM7.02 million respectively.

“Meanwhile, the net buying on Thursday amounted to RM69.6 million.”

MIDF Research recalled that for the retailers, they were net sellers on majority of days last week with net selling occurring on Tuesday, Wednesday and Thursday.

The research arm also recalled that the largest net selling by the retailers was recorded on Wednesday at RM29.49 million and largest net buying was on Monday to the tune of RM59.1 million.

“Cumulatively, for the week, retailers net bought RM35.72 million worth of equities in Bursa.”

As for local institutions, MIDF Research noted that these recorded cumulative weekly inflow was to the tune of RM138.22 million.

It further noted that local institutions were net buyers every day last week except on Thursday and largest net buying was on Wednesday to the tune of RM103.49 million.

“Since the beginning of 2021, cumulatively, retailers have been the only net buyers of our equity market to the tune of RM8.55 billion.

“Local institutions and foreign investors were net sellers to the tune of RM3.74 billion and RM4.81 billion, respectively.”

In terms of participation, MIDF Research gathered that the retail investors, local institutions and the foreign investors recorded a weekly movement of -13.18 per cent, 15.11 per cent and 0.68 per cent respectively in average daily trade value (ADTV).

Overall, Malayan Banking Bhd (Maybank) registered the highest net money inflow of RM2.44 million last week, followed by MMC Corporation Bhd saw the second highest net money inflow of RM2.37 million.

Genting Malaysia Bhd saw the third highest net money inflow of RM1.96 million.

On outflows, Hong Leong Bank Bhd saw the largest net money outflow of RM5 million last week.

Time dotCom Bhd recorded the third largest net money outflow RM1.58 million during the week under review while Malaysia Airports Holdings Bhd registered the fourth largest net money outflow of RM0.98 million.