PETALING JAYA: Foreign buying of local equity on Bursa Malaysia continued for the fourth consecutive week with net foreign inflow of RM451.7 million last week, which was 16.4% higher than the RM388.21 million of net buying seen in the week prior, according to MIDF Research.
It said that last week started with the foreign funds net buying on Monday and Tuesday amounting to RM530,000 and RM15.8 million respectively. Despite the concerns of US inflation on Wednesday, foreign funds net sold was only RM3.8 million. This was the only day of net selling by foreigners.
“The bulk of the net buying happened on Thursday and Friday at RM232.9 million and RM206.2 million respectively after the release of lower than expected US inflation data and stronger than expected Malaysia’s GDP data,” MIDF said in its fund flow report today.
Meanwhile, local institutions continued to be net sellers for the fifth week, at a rate of RM573 million, more than double the amount from the previous week, which was RM266.9 million. Local institutions have been net sellers for eight consecutive trading days since Aug 3.
The research house said local retailers reversed their net selling trend over three weeks with a net buy of RM121.3 million for the week. They were net buyers from Monday to Wednesday and on Friday but were net sellers on Thursday.
MIDF said that to date, international funds have been net buyers for 21 out of the 32 weeks of 2022, with a total net inflow of RM7.11 billion. Local institutions were net sellers for 25 out of 32 weeks, with a total net outflow of RM8.8 billion. Local retailers have been net buyers for 20 out of 32 weeks of 2022. Year to date, they have been net buyers at RM1.7 billion.
In terms of participation, there was an increase in average daily trade value (ADTV) among local institutional investors by 1.05%. Reductions in ADTV were seen among foreign investors and local retailers by 3.57% and 3.36% respectively.