KUALA LUMPUR (Oct 3): Foreign selling of local equities on Bursa Malaysia swelled to RM740.6 million last week, from RM652.6 million the prior week, as offloading activities extended for the fourth week.
In its weekly fund flow report on Monday (Oct 3), the MIDF Research team said foreign investors were net sellers for every trading day last week, with the heaviest outflow recorded last Monday at RM208.7 million, followed by RM202.9 million on Wednesday and RM149.5 million on Thursday.
It said the outflows recorded were lower at RM95 million last Tuesday and RM84.4 million last Friday.
“In contrast, local institutions were net buyers every trading day last week.
“The heaviest inflow was recorded last Monday at RM224.1 million, and it moderated to RM36.6 million on Tuesday, before increasing to RM177.3 million on Wednesday. RM126.9 million worth of inflows were posted on Thursday and RM104.3 million on Friday.
“Cumulatively, local institutions net bought RM669.2 million worth of equities last week,” it said.
MIDF said local retailers remained net buyers for the third consecutive week, with a total weekly inflow of RM71.4 million, about one-third of the amount in the week prior.
It said they started off the week by net selling RM15.3 million, before turning to net buyers at RM58.4 million on Tuesday, RM25.6 million on Wednesday, and RM22.6 million on Thursday.
The research house said they then net sold RM19.9 million at the end of the week.
“To date, international investors were net buyers for 24 out of 39 weeks of 2022, with a total net inflow of RM6.62 billion.
“Local institutions were net sellers for 30 out of 39 weeks, with a total net outflow of RM8.89 billion,” it said.
MIDF said local retailers were net buyers for 26 out of 39 weeks of 2022.
It said that year-to-date, they have net bought RM2.27 billion.
“In terms of participation, there was an increase in average daily trade value across all investor classes at 8.3% for retail investors, 15.7% for institutional investors, and 20.6% for foreign investors,” it said.
Commenting on global markets, MIDF said that for the week, Dow Jones dropped to 28,725.51 and the S&P 500 too lost 2.9% to end at 3,585.62, while the Nasdaq was down by 2.7% to close at 10,575.62.
“Of the 16 indices that we track, all were in the red, and the biggest decliners were the Philippines’ PCOMP (-8.28%), South Korea’s Kospi (-5.87%), and Taiwan’s TWSE (-4.91%),” it said.