Friday 29 Mar 2024
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KUALA LUMPUR (Feb 2): Foreign selling of Malaysian equities last week rose to RM534.78 million, from RM288.13 million the prior week, said MIDF Research.

In its weekly fund flow report today, MIDF Research said that when the market reopened on Monday last week, foreign investors sold RM199.66 million net of local equities with retailers and local institutions as net buyers to the tune of RM72.69 million and RM126.97 million respectively.

It noted that foreign investors were net sellers every day except on Friday last week. This came amid record Covid-19 cases and assurances by the finance minister that there will be no repeat of a total lockdown similar to last year.

MIDF said the largest foreign outflow was recorded last Tuesday at RM298.69 million, while the smallest outflow occurred last Thursday at only RM81.3 million.

However, it was the opposite for retailers, said the research house, as retailers were net buyers every day last week.

It said the largest net buying was recorded last Tuesday at RM286.74 million, while the smallest net purchase took place on Monday last week.

“It was also a negative net outflow for local institutions last week, albeit smaller than net outflow of foreign investors. Buying was recorded on Monday and Tuesday with a cumulative net inflow of RM138.92 million.

“Net selling activities were bigger, resulting in cumulative net selling to the tune of RM195.2 million. The biggest net outflow was on Friday with net selling of RM154.75 million,” the research house added.

Since the beginning of 2021, cumulatively, retailers were the only net buyers of our equity market to the tune of RM1.75 billion, according to MIDF.

It said local institutions and foreign investors were net sellers to the tune of RM919.25 million and RM833.87 million respectively.

“In comparison to the other three Southeast Asian markets that we tracked last week, all markets recorded a net outflow last week.

“In terms of participation, retail investors recorded a weekly decrease of 6.28% in average daily trade value (ADTV), while foreign investors and local institutions experienced declines in ADTV of 72.79% and 10.9% respectively,” it noted.

Edited BySurin Murugiah
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