KUALA LUMPUR (Jan 4): Net selling by foreign investors slowed to RM726.97 million in December, lower than the outflow of RM1.03 billion in November, said MIDF Research in a report today.

For the week ending Dec 31, however, foreign investors were net buyers with inflow amounting to RM8.89 million, marking the second straight week in December of foreign net inflows.

Meanwhile, retailers and local institutions were net sellers, disposing of RM24.92 million and RM24.44 million worth of equities respectively.

"For last week, retailers were active buyers on every day of the week except on Monday. The largest net inflow was on Tuesday and smallest on Thursday, to the tune of RM104.66 million and RM44.06 million respectively.

"It was opposite for local institutions. The market saw local institutions as net sellers every day except [on] Thursday. Largest net selling was recorded on Wednesday at RM154.98 million and net buying was on Thursday at RM31.99 million," it said.

Meanwhile, in terms of participation, retail investors recorded 48.4% lower average daily trade value (ADTV) while foreign investors and local institutions saw ADTV fall by 48.67% and 48.72% respectively.

"As 2020 is inching closer to the end, to recap, retailers and local institutions have been net buyers for Bursa Malaysia. Retailers are net buyers to the tune of RM13.84 billion, larger than local institutions at RM10.41 billion. So far in 2020, foreign investors’ net selling has reached RM24.75 billion worth of equities on Bursa. In comparison to another three South East Asian markets that we tracked last week; Thailand recorded the most foreign net inflow while Indonesia and Philippines experienced the only outflow," it said.

Tenaga Nasional Bhd saw the highest net money inflow of RM4.73 million last week, with its share price 2.62% lower for the week, underperforming the FBM KLCI which was 0.85% lower.

Meanwhile, Axiata Bhd and RHB Bhd saw inflows of RM2.11 million and RM2 million respectively, with their share prices 0.27% and 0.91% lower during the week.

Top Glove Corp Bhd, however, saw the highest level of outflows at RM20.71 million last week, while its share price was 5.7% lower for the week, underperforming the FBM KLCI.

This was followed by CIMB Group Holdings Bhd and Genting Bhd which saw outflows of RM1.87 million and RM1.2 million respectively. CIMB's share price was 2.63% higher during the week, outperforming the local bourse, while Genting's share price was 1.13% higher.