KUALA LUMPUR (Aug 16): Bursa Malaysia listed firms' combined market capitalisation (market cap) rose to RM1.693 trillion in July 2022, from RM1.648 trillion a month earlier, helped by a broad-market rebound in the second half of July, the bourse operator and regulator said on Tuesday (Aug 16).
 
"A broad-market rebound in the second half of July lifted the overall market cap by 2.8% m-o-m (month-on-month) to RM1.693 trillion; (June: RM1.648 trillion)," analysts at Bursa's research arm Bursa Digital Research wrote in a note.

Month-on-month, the monthly average daily volume (ADV) slipped 29.3% from RM1.9 billion in June to RM1.34 billion in July, while on a year-to-date (YTD) basis, nine out of 10 of the lowest ADV were recorded in the month of July.

“On average, the ADV during these nine days was RM1.16 billion. Activities contracted as the broad-market was technically oversold. However, in line with the rebound in the market in the second half of July, ADV showed tentative signs of stabilising,” the research firm said.

Bursa Digital noted that July witnessed local retail investors turn into net sellers for the first time in 2022, as they net sold a total of RM16.03 million.

Foreign investors were the only category of investors that saw a net inflow of RM174.98 million.

“Local institutional investors resumed their selling in July, disposing of RM40.87 million worth of holdings. They have been selling six out of the last seven months,” the firm said.

On a YTD basis, foreign investors remained the biggest net buyer in the local bourse, after they accumulated securities worth RM6.26 billion, followed by local retail investors with RM1.70 billion.

“Local institutional investors have disposed of a net of RM7.95 billion worth of holdings,” it added.