Foreign outflow on Bursa continues at RM376.46mil net

KUALA LUMPUR: The net outflow of foreign funds from Bursa Malaysia continued over the previous trading week to the tune of RM376.46mil, bringing the foreign outflow so far this year to RM2.87bil, said MIDF Research in its weekly fund flow report.

The foreign outflow was lower than RM490.3mil recorded in the week before although this could be owing to the national holiday on Thursday, which resulted in fewer trading days.

A single day of foreign inflow on Tuesday also helped to pare the outflow as offshore funds bought RMRM150.3mil net of local equities.

Heavy selling by foreign funds was recorded on Tuesday with RM229.6mil net equities sold, the largest outflow for the week.

Retailers were net buyers on the market everyday, with the largest amount being the purchase of RM137.78mil net of local equities on Monday.

Over the four trading days, retailers were net buyers of RM329.34mil worth of Bursa equities.

Local institutions were also net purchasers of Bursa stock with RM47.11mil bought.

"Since the beginning of 2021, cumulatively, retailers have been the only net buyers of our equity market to the tune of RM6.01b.

"Local institutions and foreign investors were net sellers to the tune of -RM3.14b and -RM2.87b, respectively," said MIDF.

On Bursa, counters that saw the highest net money inflows over the week were Kossan, Inari and AMMB Holdings.

Counters that led net money outflows were Top Glove, Hartalega and Lotte.
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