MIDF: Foreign investors turned into net sellers last week

 

After seven consecutive weeks of foreign fund inflows, foreign investors turned into net sellers last week, disposing of RM42.49 million worth of equities.

In its weekly fund flow report today, MIDF Research (MIDF) said foreign investors were net sellers from Monday to Thursday before turning into net buyers on Friday.

“The bulk of the foreign net outflows were seen on Tuesday and Wednesday at -RM42.18 million and -RM45.72 million, respectively.

“Foreigners also net sold -RM3.89 million on Monday and -RM2.6 million on Thursday, before net buying RM51.9 million worth of equities on Friday,” it said.

Conversely, after being net sellers for eight consecutive weeks, local institutions picked up RM91.29 million worth of equities last week.

They were net buyers from Monday to Thursday, with the bulk of the net buying seen on Tuesday and Wednesday at RM59.26 million and RM51.36 million, respectively, said MIDF.

The net buying on Monday and Thursday amounted to RM2.55 million and RM3.51 million, respectively, but they turned into net sellers on Friday at -RM25.39 million, it added.

Meanwhile, after four weeks of net buying, local retailers turned into net sellers last week at -RM48.81 million.

“They started the week by net buying RM1.35 million of equities before turning net sellers for the rest of the week.

“The biggest portion of the net selling was seen on Tuesday and Friday at -RM17.08 million and -RM26.51 million, respectively, while Wednesday and Thursday saw net selling at RM5.64 million and RM910,000, respectively,” the research house said.

MIDF said the top three sectors which saw net outflows by foreign investors last week were industrial products and services (-RM121.8 million), plantation (-RM35.7 million) and healthcare (-RM34.6 million).

Meanwhile, the top three sectors with net inflows were construction (RM69.2 million), telecommunication (RM47.9 million) and utilities (RM25.1 million).

Year-to-date, international funds have been net buyers for 24 out of the 36 weeks of 2022, with a total net inflow of RM8.11 billion.

“Meanwhile, local institutions were net sellers for 28 out of 36 weeks, with a total net outflow of –RM9.90 billion, while local retailers have been net buyers for 23 out of 36 weeks of 2022, with net inflows of RM1.79 billion,” it added.

- Bernama