PETALING JAYA: Foreign investors continued to net sell again on Bursa Malaysia with sales totalling RM1.16 billion last week, the highest outflow in three years.
The previous outflow peak occurred during the week ended March 20, 2020, when foreign investors net sold RM1.79 billion.
MIDF Research said in its fund flow report today foreign investors net bought RM20.6 million last Monday, but net sold for the rest of the week.
They disposed of RM39.3 million on Tuesday, RM397.6 million on Wednesday, RM410.6 million on Thursday, and RM336.3 million on Friday.
The top three sectors with net foreign inflows for the week were utilities (RM86.2 million), construction (RM41.8 million) and property (RM21.9 million).
Meanwhile, the top three sectors that recorded net foreign outflows were financial services (-RM770.3 million), consumer products and services (-RM246.5 million) and healthcare (-RM159.8 million).
Year-to-date, foreign investors have net sold RM3.13 billion on Bursa Malaysia.
The research house noted that local institutions broke their three-week net selling streak with a net purchase of RM1.05 billion, the highest net buying amount seen in three years since the week ended June 5, 2020, when they net bought RM1.18 billion.
It said year-to-date, local institutions had net bought RM3.63 billion of equities.
“They were net buying sectors such as financial services (RM678.5 million), healthcare (RM138.6 million), and consumer products and services (RM127.2 million).
“Local retailers continued to net buy domestic equities for the second consecutive week at RM114.4 million,” it said.
The research house said local retailers net bought every day except last Thursday, net selling RM22.6 million.
It said year-to-date, local retailers had recorded net sales amounting to RM508.2 million.
“In terms of participation, there was an increase in the average daily trading volume among foreign investors by 2.4% last week, and 3.6% among local institutions, while local retailers saw a decline of 3.7%,” it said.
MIDF also said that it was a week filled with turbulence, led by a sell-off in the bond market, which saw the 10-year US Treasury yield hitting its highest level since 2007.
“At the same time, investors waited closely for the crucial non-farm payrolls numbers that were released on Friday,” it noted. - FMT
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