KUALA LUMPUR, Dec 11 — Foreign investors reversed their five-week net buying streak last week, with net selling at -RM276.4 million last week, said MIDF Research.
The same trend was also seen in Taiwan, Vietnam, Thailand, and Indonesia.
In its Fund Flow Report for the week ending on December 8, 2023, the research firm said the highest net selling for the week occurred on Thursday (December 7) at -RM95.4 million, followed by Monday at -RM92.5 million.
The top three sectors with net foreign inflows last week were utilities (RM118.5 million), property (RM19.1 million), and construction (RM9.4 million).
The top three sectors with net foreign outflows were consumer products and services (-RM191.3 million), transport and logistics (-RM62.3 million) and industrial products and services (-RM48.4 million).
Meanwhile, local institutions became net buyers in contrast, snapping up RM194.0 million in shares after five consecutive weeks of net selling.
“There was net buying every trading day of the week, except for Tuesday (December 5) when there was an outflow of -RM21.4 million.
“On that day, local institutions were observed selling shares of CIMB Group (-RM25.5 million), YTL Power (-RM16.7 million), and Public Bank (-RM15.3 million),” said MIDF Research.
At the same time, local retailers sustained their net buying of domestic equities for the second consecutive week at RM82.4 million.
“This represents a significantly moderated rate compared to the RM210.9 million net buying recorded in the previous week,” it said.
In terms of participation, there were declines in average daily trading volume (ADTV) across the board – local retailers (-15.3 per cent), local institutions (-16.4 per cent), and foreign investors (-49.9 per cent).
— Bernama
