Thursday 28 Mar 2024
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KUALA LUMPUR (March 14): Foreign investors continued to be net buyers for the fifth consecutive week, albeit at a slower pace of RM649.08 million last week versus RM1.08 billion in the preceding week, according to MIDF.

In its weekly fund flow report on Monday (March 14), the MIDF Research team said foreign investors were joined by local retailers as net buyers for the week ended March 11, with a total net inflow of RM896.5 million.

It said that as the market reopened last Monday (March 7), local retailers and foreign investors bought RM57.8 million and RM142.6 million net of local equities respectively, while local institutions kicked off the week as net sellers at RM200.4 million.

Notably, going forward, foreign investors continued the net buying streak they started on Feb 7 by being net buyers every day of last week, extending it to 25 consecutive days, according to MIDF.

“Foreigners continued to be net buyers on every day of the week since a month ago on Feb 7, i.e. for 25 consecutive days uninterrupted. The largest foreign inflow recorded last week was on Thursday (March 10) at RM172.6 million and the smallest inflow was on Tuesday (March 8) at only RM76.36 million,” it said.

Likewise, the research house said retail investors were net buyers every day of the week bar Friday when they turned net sellers to the tune of RM32.5 million.

“The largest net buying was on Tuesday at RM121.7 million, while the smallest on Thursday at RM17.21 million,” MIDF noted.

Meanwhile, MIDF said local institutions continued to be net sellers, with the largest net outflow last week on Wednesday at RM223.7 million and the smallest on Friday at RM84.49 million. 

As a whole, for the week ended March 11, foreign investors finished strong as net buyers at RM649.08 million, followed by retailers at RM247.39 million, while local institutions were net sellers at RM896.47 million.

“In terms of participation, the retail investors, local institutions and the foreign investors recorded a weekly movement of -8.09%, -2.09% and -14.38% respectively in average daily trade value (ADTV).

“On a year-to-date basis, we observed RM4.41 billion in net inflows from foreign investors and RM630 million in net inflows from retailers. Meanwhile, local institutions were the only net seller, to the tune of RM5.04 billion,” it added. 

Edited BySurin Murugiah
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