KUALA LUMPUR, Sept 11 — Foreign investors remained net sellers of local stocks on Bursa Malaysia last week, at RM27.7 million, marking a much slower net outflow compared to the RM113.5 million the week before, said MIDF Research.
The net selling on Monday (September 4) and Tuesday (September 5) last week could not reverse the net buying thereafter, said MIDF Research in its Fund Flow Report for the week which ended on September 8, 2023.
“They net sold RM107.4 million on Monday and RM58.3 million on Tuesday before net buying RM95.5 million on Wednesday (September 6), RM11.8m on Thursday (September 7), and RM30.8m on Friday (September 8).
“The top three sectors that saw net foreign inflows were Utilities (RM211.6 million), Property (RM40.4 million) and Energy (RM32.9 million),” it said.
The bottom three sectors with net foreign outflows for the week were Financial Products and Services (-RM226.0m), Industrial Products and Services (-RM33.5m) and Consumer Products and Services (-RM30.2m).
Year-to-date, foreigners have net sold RM2.70 billion, the research firm said.
Local institutions, on the other hand, maintained their net buying pace for the fourth consecutive week with an amount of RM60.6 million last week.
“The net buying amounts of RM92.3 million on Monday and RM87.7 million on Tuesday was sufficient to cushion the outflows on Wednesday (RM79.6 million), Thursday (RM11.1 million) and Friday (RM28.8 million).
“Year-to-date, local institutions have net bought RM3.29 billion of equities,” said MIDF Research.
It added that local retail investors continued to net sell, now going into the ninth consecutive week. The net selling amount came up to RM33.0m last week.
“They net bought RM15.1 million on Monday but were net sellers for the rest of the week. Year-to-date, local retailers have net sold RM583.6 million,” MIDF said.
In terms of participation, there was a decline in average daily trading volume across the board among foreign investors (-51.1 per cent), institutional investors (-28.4 per cent) and retail investors (-26.6 per cent).
— Bernama
