Foreign investors net sellers for 2nd straight week with RM397 million outflow
Published on: Monday, October 30, 2023
By: FMT Business
Year-to-date, foreign investors have net sold RM4.13 billion on Bursa Malaysia, says MIDF Research.
PETALING JAYA: Foreign investors have been net sellers of domestic equities for two consecutive weeks, having offloaded a total of RM396.9 million last week, said MIDF Research.
Last Wednesday saw the highest daily foreign outflow of RM150.4 million, with foreign investors selling stocks like Hong Leong Bank (-RM54 million), KL Kepong (-RM33.6 million) and Gamuda (-RM22.4 million).
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In its weekly fund flow report today, MIDF Research stated that foreign investors have net sold RM4.13 billion on Bursa Malaysia year-to-date (YTD).
The top three sectors with the highest net foreign inflows were utilities (RM107.7 million), technology (RM18.5 million) and property (RM16.2 million).
Meanwhile, the top three sectors with the highest net foreign outflows were financial services (-RM181.9 million), consumer products and services (-RM101.4 million), and construction (-RM65 million).
“Local institutions have maintained their trend of purchasing domestic equities for the fourth consecutive week, with a net buying amount of RM493.1 million.
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“There were favouring sectors such as financial services (RM236 million), consumer products and services (RM76.4 million), and construction (RM50.3 million),” it said.
MIDF Research said YTD, local institutions have net bought RM4.88 billion of equities.
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Besides this, local retailers have persisted as net sellers of domestic equities for the third consecutive week, totalling RM96.2 million in net sales.
YTD, the research house said, retailers have accumulated net sales amounting to RM756.8 million.
“In terms of participation, there was a decrease in average daily trading volume (ADTV) among retail (-3.6%) and foreign (-26.1%) investors, but an increase among institutional investors (+2.7%),” it stated.
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