KUALA LUMPUR (July 5): Foreign investors were net sellers again last week, with the outflow amounting to RM499.25 million. This was the second consecutive week of net selling by foreign investors, according to MIDF Research.

The local research firm noted that since the beginning of the year, cumulatively, retailers were the only net buyers of the equity market to the tune of RM8.21 billion. Local institutions and foreign investors were net sellers at RM3.89 billion and RM4.31 billion respectively.

"Foreign investors were net sellers every day for the week ended July 2 (last Friday). The largest foreign outflow was recorded last Wednesday at RM206 million, with the smallest outflow on Friday totalling RM28.66 million," MIDF Research said in its weekly fund flow report today.

As for retailers, they were net buyers every day of the week. The largest net buying by retailers was recorded last Monday at RM103.32 million, while the smallest net buying was on Friday to the tune of RM13.87 million. Cumulatively for the week, retailers net bought RM309.56 million worth of equities on Bursa Malaysia.

Meanwhile, local institutions recorded a cumulative weekly inflow to the tune of RM189.69 million. The only net selling done by local institutions was on Tuesday at RM44.32 million. Conversely, the largest net buying was made last Wednesday, amounting to RM137.39 million.

In terms of participation, foreign investors recorded an increase of 5.2% in weekly movement, while retail investors and local institutions recorded a weekly movement of a 2.53% decline and a 2.83% increase respectively in average daily trade value.

In Asia, foreign investors also remained net sellers last week. Based on the provisional aggregate data for the seven Asian exchanges (South Korea, Thailand, Indonesia, the Philippines, India, Taiwan and Malaysia) that MIDF Research tracks, the net outflow from investors classified as “foreign” amounted to US$1.71 billion (about RM7.11 billion) worth of equities. This was primarily driven by outflows from Taiwan and South Korea.

Brent crude oil prices, meanwhile, saw a 0.01% decline weekly movement last week to close at US$76.17 per barrel last Friday. On the same day, the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC ministers finished the meeting without a deal, with the United Arab Emirates still blocking a proposal to increase supply.