Foreign investors remain net sellers of equities with RM337 million outflow last week - MIDF
11 Oct 2022 10:28am
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MIDF Research said the only day that the market saw a net inflow from foreign investors was on Tuesday at RM59.64 million after recording net selling for 14 consecutive trading days.
"However, the net selling trend continued again on Wednesday and right up to Friday,” it said in a note today.
The bulk of the foreign net outflows were on Friday at RM143.36 million and Monday at RM112.42 million, it said.
Meanwhile, the research house noted that foreigners also net sold on Wednesday and Thursday at RM68.05 million and RM72.71 million, respectively.
"The top three sectors which saw net outflows by foreign investors last week were financial services at RM310.8 million, technology at RM52.7 million, and consumer products and services at RM42.1 million.
"The top three sectors were construction at RM117.8 million, telecommunications and media at RM32.5 million and energy at RM27 million,” it said.
Local institutions were net buyers for the third consecutive week, with net buying of RM413.47 million last week, and they were net buyers every day of the week except on Tuesday as they net sold RM33.04 million.
"The net buying days were consistently above the RM100 million mark, with the highest amount observed on Friday at RM137.71 million,” it said.
As for local retailers, MIDF Research said they turned net sellers at RM76.56 million last week after net buying for the previous three weeks.
"They net sold RM26.6 million, RM33.01 million and RM31.93 million on Tuesday, Wednesday and Thursday, respectively, and were net buyers on Monday and Friday at RM9.33 million and RM5.65 million, respectively,” it said.
To date, the research house said, international funds have been net buyers for 24 out of the 40 weeks of 2022, with a total net inflow of RM6.29 billion, while local institutions were net sellers for 29 out of those weeks, with a total net outflow of RM8.47 billion.
Local retailers were net buyers for 26 of the weeks. "Year to date, they have been net buyers at RM2.19 billion,” it said.
In terms of participation, there was a decline in average daily trade value across the board, led by foreign investors at -31.53 per cent, local institutions at -17.76 per cent and retailers at -9.89 per cent. - BERNAMA
