PETALING JAYA: The trend of foreign buy of Malaysian equities continued on Bursa Malaysia for the sixth consecutive week, albeit more moderated at RM244.6 million last week compared with RM615.5 million in the week prior, MIDF Research said.
Foreigners were net buyers on Monday (RM56.2 million), Tuesday (RM14.2 million) and on Thursday and Friday at RM193 million and RM71.7 million respectively. They were net sellers only on Wednesday at RM90.5 million.
Local institutions were still net sellers at RM286.2 million last week, now going into the seventh consecutive week. They have been net sellers for every trading day since Aug 3 before briefly turning net buyers on Wednesday at RM24.3 million. They net sold on Monday (RM92.4 million), Tuesday (RM40.4 million), Thursday (RM114.3 million) and Friday (RM63.5 million).
Local retailers maintained as net buyer for the third week coming at RM41.7 million. They bought RM128.6 million net from Monday to Wednesday before net selling RM87 million over the next two days.
The top three sectors which saw net inflows by foreign investors were financial services (RM333.7 million), telecommunications (RM49.5 million) and utilities (RM39.9 million). Meanwhile, the top three sectors with net outflows were technology at RM87.8 million, healthcare at RM73.1 million and industrial products and services at RM25.3 million.
“To date, international funds have been net buyers for 23 out of the 34 weeks of 2022, with a total net inflow of RM7.97 billion. Local institutions were net sellers for 27 out of 34 weeks, with a total net outflow of RM9.76 billion. Local retailers have been net buyers for 22 out of 34 weeks of 2022 at RM1.8 billion,” MIDF said in its fund flow report.
In terms of participation, average daily trade value saw a decline across the board, led by local institutions (8.9% decrease), retailers (2.97% decrease) and foreign investors (0.9% decrease).