Thursday 28 Mar 2024
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KUALA LUMPUR (Nov 14): Foreign funds acquired Malaysian equities on Bursa Malaysia to the tune of RM425.72 million last week, after having offloaded RM275.92 million the prior week.

In its weekly fund flow report on Monday (Nov 14), MIDF Research said foreign funds were net buyers for every day of the week, with the largest inflows seen last Thursday (Nov 10) at RM97.42 million and last Friday at RM105.96 million.

It said net inflows were recorded at RM89.89 million last Monday, at RM55.77 million last Tuesday, and at RM76.57 million last Wednesday.

MIDF Research said the top three sectors which saw net inflows by foreign investors last week were financial services at RM137.6 million, consumer products and services at RM133 million and healthcare at RM70.4 million.

Meanwhile, the three sectors with net outflows were construction at RM10.2 million, transportation and logistics at RM4 million and REITs at RM1.4 million.

“On the flip side, local institutions turned net sellers to the tune of RM252.04 million, after briefly turning net buyers the week before.

“They were net sellers from last Monday to last Thursday before net buying RM10.01 million last Friday.

“The net selling amounted to RM82.67 million last Monday, RM36.93 million last Tuesday, RM63.70 million last Wednesday and RM78.75 million last Thursday,” it said.

MIDF Research said local retailers were also net sellers for the week, with net selling at RM173.57 million.

It said they net sold every day of the week, with the heaviest outflow at RM115.97 million last Friday.

“They also net sold RM7.22 million last Monday, RM18.84 million last Tuesday, RM12.87 million last Wednesday and RM18.67 million last Thursday,” it said.

MIDF Research said international funds have been net buyers for 26 out of the 45 weeks of 2022, with a total net inflow of RM6.18 billion.

It said local institutions were net sellers for 31 out of 45 weeks, with a total net outflow of RM8.14 billion.

The research house said local retailers have been net buyers for 28 out of 45 weeks, adding that year-to-date, they have been net buyers at RM1.96 billion.

“In terms of participation, there was an increase among local retailers by 3.15% and local institutions by 1.40%.

“As for foreign investors, there was a decline of 7.21%.

“We foresee stronger market participation this week as investors are expected to take positions in view of the upcoming general election on Saturday and the upcoming semi-annual review of the FBM KLCI,” it said.

Meanwhile, commenting on international markets, MIDF Research said cooling inflation data in the US and the easing of China’s Zero-Covid policy gave markets a boost last week.

“S&P500 grew 5.90%, its best week since June. The Dow gained 4.15% while Nasdaq surged 8.1% to record its best week since March.

“Out of the 16 major indices that we track, 15 ended the week positively. Topping the list was Taiwan’s TAIEX with a weekly advancement of 7.53%. The only decliner was FTSE 100,” it said.

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