Friday 29 Mar 2024
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KUALA LUMPUR (Sept 20): Foreign investors remained net buyers for the sixth consecutive week as of last Friday (Sept 17), mopping up RM125.97 million Malaysian equities, but lower than RM433.16 million for the prior week.

In its weekly fund flow report today, the MIDF Research Team said that as the market reopened last Monday, foreign investors were net buyers amounting to RM58.39 million.

It said retailers followed with net buying of RM63.5 million.

“Meanwhile, local institutions were net sellers to the tune of RM121.89 million.

“Foreign investors were net buyers every day of the week except last Friday,” it said.

It said the largest foreign inflow was recorded last Wednesday and the smallest inflow on Monday to the tune of RM76.96 million and RM58.39 million respectively.

“Net selling by foreign investors last Friday amounted to RM72.65 million.

“As for retailers, they were net buyers every day. The largest net buying by retailers was recorded last Friday and the smallest net buying was on Wednesday to the tune of RM81.57 million and RM6.97 million respectively,” it said.

MIDF Research said that cumulatively for the week, retailers net bought RM211.55 million worth of equities on Bursa Malaysia.

Meanwhile, it said local institutions recorded cumulative weekly net selling to the tune of RM337.92 million.

The research house said local institutions were net sellers every day of the week, with the largest net selling on Tuesday to the tune of RM123.18 million, while the lowest was on Friday (RM8.92 million).

It said since the beginning of 2021, cumulatively, retailers were the only net buyers of the local equity market to the tune of RM10.04 billion.

“Local institutions and foreign investors were net sellers to the tune of RM6.38 billion and RM3.66 billion respectively.

“In terms of participation, retail investors, local institutions and foreign investors recorded weekly movements of 4.67%, -6.08% and 45.97% respectively in average daily trade value (ADTV),” it said.

Commenting on regional markets, MIDF Research said the majority of global markets were in mixed territory last week.

“Among the indices that we tracked, India's Sensex saw the biggest increase of 1.22% following the government's policy support measures for various sectors.

“ In the US, the Producer Price Index (PPI) rose steadily by 8.3% year-on-year (y-o-y) in August 2021 (July 2021: +7.8% y-o-y), recording the fastest PPI inflation since November 2010.

“In Japan, the country logged its first trade deficit in three months in August 2021 at -¥635.4 billion (July 2021: +¥439.4 billion), the largest trade deficit since December 2012 as the surge in imports outpaced weaker exports during the month,” it said.

It said the Brent crude oil price saw a +3.32% weekly movement last week to close at US$75.34 (about RM315.55) a barrel last Friday.

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