Foreign funds snap 9-week selling spree

KUALA LUMPUR: Foreign funds acquired RM32.4mil worth of equities on Bursa Malaysia last week, snapping a nine-week selling streak, according to MIDF Research.

“As the market reopened last Monday, foreign investors sold RM74.3mil net of local equities, with retailers and local institutions both as net buyers to the tune of RM4.16mil and RM70.1mil respectively,” MIDF said in its weekly fund flow report.

The research house noted that foreign investors were net buyers every day except for Monday and Wednesday.

The largest foreign inflow was recorded on Thursday at RM58.9mil and the smallest inflow was on Tuesday at RM27.7mil.

Meanwhile, the largest outflow was recorded on Monday at RM74.3mil.

As for the retailers, MIDF said they were net buyers every day except for Friday.

“Largest net buying by the retailers was recorded on Wednesday at RM49.6mil and smallest net buying was on Tuesday at RM3.8mil.

“The only outflow recorded amounted to RM15.7mil. Cumulatively, for the week, retailers net bought RM67.7mil worth of equities in Bursa,” it said.

The cumulative weekly outflow for local institutions was to the tune of RM100.2mil, MIDF said.

The biggest net buying was on Thursday at RM84.8mil while the only net selling happened on Friday at RM15.7mil.

“Since the beginning of 2021, cumulatively, retailers have been the only net buyers of our equity market to the tune of RM6.3bil.

“Local institutions and foreign investors were net sellers to the tune of RM3.0bil and RM3.3bil, respectively,” MIDF said.

In terms of participation, the retail investors, local institutions, and foreign investors recorded a weekly increase of 38.5%, 41.0%, and 46.1% respectively in average daily trade value.