Friday 29 Mar 2024
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KUALA LUMPUR (March 15): Foreign investors continued to be net buyers of Malaysian equities last week, leading to a net inflow of RM240.71 million, albeit at a slower pace than the RM285.83 million in the prior week.

In its weekly fund flow report today, the MIDF Research team said as the market reopened last Monday, foreign investors sold RM62.93 million net of local equities, with retailers and local institutions both as net buyers to the tune of RM48.95 million and RM13.98 million respectively.

MIDF said foreign investors were net buyers every day except Monday and Friday last week.

“This came amid the resumption of more economic activities and reopening of more sectors (i.e. the entertainment industry) as well as a decreasing number of new Covid-19 cases recorded in Malaysia,” it said.

On a year-to-date (YTD) basis, according to MIDF, foreign net selling this year came in lower when compared against the same period last year.

Net selling by foreigners was RM1.17 billion for 2021 thus far, compared with net selling of RM5.21 billion over the same period in 2020, it said.

As for retailers, it said, they were net buyers every day last week except Tuesday.

The largest net buying was recorded last Friday at RM74.73 million and the smallest net purchase was on Wednesday at RM4.8 million, it said.

Meanwhile, local institutions were net sellers every day of the week, except last Monday and Friday, according to MIDF.

“The mixed ending was recorded after a five-week pattern of net selling this year. The cumulative weekly outflow was to the tune of RM424.04 million,” it said.

It also said the biggest net selling was on Wednesday at RM191.37 million, while the smallest net selling was on Tuesday at RM110.93 million.

“In comparison to the other three Southeast Asian markets that we tracked last week, Malaysia and Thailand were the [only] countries that recorded net inflows last week,” said MIDF.

In terms of participation, it said, retail investors and local institutions recorded a weekly increase of 3.26% and 6.92% respectively in average daily trading value (ADTV).

Meanwhile, foreign investors decreased by 22.37% in ADTV, it added.

Commenting on global markets, MIDF said major equity markets worldwide saw a better performance as data showed underlying consumer prices remained tepid in February, easing concerns about a spike in inflation.

It said in the US, President Joe Biden signed the US$1.9 trillion (RM7.81 trillion) coronavirus relief package last Thursday afternoon.

Edited BySurin Murugiah
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