KUALA LUMPUR (Feb 8): Foreign investors turned net buyers of local equities on Bursa Malaysia to the tune of RM117.05 million last week, said MIDF Research.
As the market reopened on Tuesday last week after a long weekend, the research firm said foreign investors bought RM179.11 million net of local equities with retailers and local institutions as net sellers to the tune of RM6.01 million and RM173.1 million respectively.
In its weekly fund flow report, MIDF noted that last week was a four-day trading period which started on Tuesday.
Even with the weekly positive inflow, it said the market saw net foreign outflow every day of the week except on Tuesday.
“The only inflow was to the tune of RM179.11 million. Subsequent continuous selling was not able to negate Tuesday’s inflow. Largest foreign outflow was recorded on Friday at RM38.78 million and the smallest outflow was on Wednesday at only RM4.9 million,” said MIDF.
However, it was the opposite for retailers, according to the research firm as retailers were net buyers every day of last week except on Tuesday.
“Largest net buying was recorded on Thursday at RM105.81 million and smallest net purchase was on Wednesday at RM49.52 million,” said MIDF.
Meanwhile, it said, local institutions were net sellers every day of last week. MIDF said cumulative weekly outflow was to the tune of RM339.17 million.
The research firm noted that the biggest outflow was on opening day of last week's trading period at RM173.1 million and smallest outflow was on Friday at RM34.04 million.
“Since the beginning of 2021, cumulatively, retailers are the only net buyers of our equity market to the tune of RM1.98 billion. Local institutions and foreign investors are net sellers to the tune of RM1.26 billion and RM0.72 billion respectively,” it said.
In comparison to the other three Southeast Asian markets that MIDF tracked last week, Thailand is the only country that recorded net outflow last week.
“In terms of participation, the retail investors recorded a weekly decrease of 14.55% in average daily trade value (ADTV) while the foreign investors and local institutions experienced declines in ADTV of 9.68% and 19.85% respectively,” added MIDF.