KUALA LUMPUR (Aug 2): Local equities were largely supported by retail investors since the beginning of 2021 as cumulatively, retailers were the only net buyers to the tune of RM8.97 billion.

Meanwhile, local institutions and foreign investors were net sellers to the tune of RM3.43 billion and RM5.54 billion respectively, according to the MIDF Research team.

For comparison, MIDF on Aug 3, 2020 said that for the same period in 2020, foreign investors sold RM19 billion net on Bursa Malaysia, indicating that the foreign selling trend spilled over to this year.

In its weekly fund flow report today, MIDF said foreign investors remained net sellers of Malaysian shares for the sixth consecutive week last week, with the outflow widening to RM579.73 million from RM147.87 million previously.

It said as the market reopened last Monday, foreign investors were net sellers amounting to RM139.06 million.

According to the research house, foreign investors were net sellers every day of the week, with the largest foreign outflow recorded last Friday at RM325.13 million.

Meanwhile, local institutions bought RM48.18 million net of local equities last week, with retailers as net buyers to the tune of RM90.88 million.

MIDF said retailers were net buyers every day last week, with the largest net buying recorded last Monday at RM90.88 million.

Cumulatively, for the week, retailers net bought RM258.8 million worth of equities on Bursa.

Meanwhile, local institutions recorded cumulative weekly net buying to the tune of RM320.93 million.

Local institutions were net buyers last Monday, Wednesday and Friday, with the largest net buying last Friday to the tune of RM279.86 million, it said.

In terms of participation, retail investors, local institutions and foreign investors recorded weekly movements of -18.95%, -24.52% and -5.86% respectively in average daily trade value.