Thursday 28 Mar 2024
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KUALA LUMPUR (Nov 7): Foreign buying of Malaysian equities was halted last week as funds offloaded RM275.92 million, versus RM292.67 bought the prior week.

In its weekly fund flow on Monday (Nov 7), the MIDF Research team said three out of five trading days last week saw net outflows, with the largest at RM265.04 million last Thursday .

It said this was followed by net selling last Tuesday at RM66.99 million, and last Monday at RM8.40 million.

“Local institutions were net buyers last week, with the heaviest inflow last Thursday at RM203.87 million, followed by RM77.58 million last Tuesday and RM30.84 million last Monday.

“Local institutions were net sellers in the week for two days only — last Friday at RM38.44 million and last Wednesday at RM11.51 million,” it said.

The research house said local retailers turned into net buyers last week, with a record inflow of RM13.57 million.

It said they were net sellers at RM22.45 million last Monday, RM10.59 million last Tuesday, and RM25.91 million last Friday.

“They were net buyers at RM11.35 million last Wednesday, and RM61.17 million last Thursday.

“The top three sectors which saw net outflows were financial services at RM270.3 million, healthcare at RM88.2 million, and industrial products and services at RM37.7 million.

“Meanwhile, the three sectors with net inflows by foreign investors last week were consumer products and services at RM43.9 million, utilities at RM22.9 million, and transportation and logistics at RM17.3 million,” it said.

MIDF said international funds were net buyers for 25 out of 44 weeks of 2022, with a total net inflow of RM5.76 billion.

Meanwhile, local institutions were net sellers for 30 out of 44 weeks, with a total net outflow of RM7.89 billion.

The research house said local retailers were net buyers for 28 out of 44 weeks of 2022.

It said that year-to-date, they are net buyers at RM2.14 billion.

In terms of participation, MIDF said there was an improvement in average daily trade value among foreign investors by 13.53% and retailers by 2.76%.

It said that as for local institutions, there was a decline of 8.00%.

Commenting on the international scenario, MIDF said Wall Street's three major stock indices closed higher, mostly contributed by technology, financials, consumer discretionary, communication services, and industrials.

It said the Dow Jones Industrial Average grew 1.26% or 401.97 points to 32,403.22, the S&P 500 gained 50.66% or 50.66 points to close at 3,770.55, and the tech-heavy Nasdaq Composite Index close higher as well by 1.28% or 132.31 points at 10,475.25.

“Out of the 16 major indices that we track, 12 ended the week positively.

“The Hang Seng Index secured the top spot, followed by China’s CSI 300 Index and the FTSE 100 Index,” it said.

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