KUALA LUMPUR (March 28): Foreign investors and local retailers were net buyers last week with total net inflows amounting to RM565.5 million, albeit lower than the RM1.18 billion the prior week.

In its weekly fund flow report on Monday (March 28), the MIDF Research team said international funds had been net buyers on the local bourse for 10 out of the first 12 weeks of 2022, with a net inflow of RM6.12 billion since the beginning of the year. 

“Year-to-date, local institutions are net sellers to the tune of RM6.61 billion, while local retailers are net buyers at RM492.8 million.

“In terms of participation, only local institutions saw an increase in average daily trade value by 5.74%. 

“Foreign investors and local institutions recorded declines of 61.77% and 8.87% respectively,” the research house explained.

Meanwhile. MIDF Research highlighted that foreign investors turned net sellers at RM8.6 million last Monday, ending their 30-day streak of net buying, but turned net buyers again for the rest of the week. 

The largest net inflows from foreign investors occurred last Thursday (RM176.5 million), Tuesday (RM134.3 million) and Friday (RM114.5 million), it said. 

“Local institutions, which had been strong net sellers, ended their 31-day net selling streak last Monday with net buying of RM58.3 million before turning net sellers again from Tuesday to Friday. 

“The largest net outflow was on Tuesday (RM225.2 million) and Thursday (RM191.7 million), followed by Wednesday (RM105 million). Overall, local institutions were net sellers at US$565.5 million (about RM2.38 billion).

“Local retailer movements were rather mixed last week with three days of net selling and two days of net buying, culminating in a net buying position for the week at RM39.9 million,” it added.