LIKE most of its Asian peers, Bursa Malaysia recorded massive net selling last week which amounted to – RM1.59 bil – the highest weekly net outflow in four years since the country went into movement control order (MCO) in March 2020.
This marks the eighth consecutive week of net selling in the local bourse by foreign investors, according to MIDF Research,
“They net sold every day last week and have been net selling Malaysian equities for nine straight trading days,” the research house pointed out in its weekly fund flow report.
“The only sector with a net foreign inflow last week was telecommunication & media (RM9.3 mil) while the top three sectors that recorded the highest net foreign outflows were financial services (-RM425.8 mil), consumer products & services (-RM308.9 mil) and industrial products & services (-RM206.3 mil).”
On the contrary, Bursa Malaysia continued to be supported by local institutions with net buying of RM1.79 bil for the week, a six-year high since February 2018.
“This is their eighth consecutive week of net buying. In terms of days, they have been net buying for 11 straight trading days,” observed MIDF Research.
However, local retailers remained net sellers for the sixth consecutive week with net sales amounting to -RM195.8 mil. They net bought RM59.5 mil on Monday (April 15) but were net sellers for the rest of the week.
In terms of participation, the average daily trading volume (ADTV) saw increases across the board led by local institutions (+30.2%), followed by foreign investors and local retailers at +28.4% and +19.5% respectively.
In comparison with another four Southeast Asian markets tracked by MIDF Research, all markets experienced net outflows last week with Thailand raking in the highest value at -US$285.5 mil after two weeks of net buying in a shortened number of trading days in view of the Songkran or Thai New Year celebration.
Elsewhere, Indonesia posted a third consecutive week of net outflows at -US$277.3 mil while Vietnam recorded its sixth consecutive week of foreign funds exiting its equity market at -US$46.8 mil. In a shortened trading week in the Philippines, foreigners net sold US$30.5 mil worth of equities for the third consecutive week.
The top three stocks with the highest net money inflow from foreign investors last week were YTL Power International Bhd (RM28.4 mil), Axiata Group Bhd (RM24.3 mil) and Inari Amerton Bhd (RM22.7 mil). – Focus Malaysia
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