KUALA LUMPUR: Foreign investors changed course by turning net buyers to the tune of RM75.68mil last week compared with a net selling of RM193.86mil in the preceding week, according to MIDF Research.
The research house said last week marked the seventh time of weekly net buying from foreign investors out of the cumulative 24 weeks so far this year.
“As the market reopened last Monday, foreign investors bought RM98.86mil net of local equities, with retailers and local institutions both as net sellers to the tune of RM1.14mil and RM97.72mil, respectively,” MIDF said in its weekly fund flow report.
It noted that foreign investors were net sellers on the majority of days last week with net buying occurring on Monday and Friday.
It added that the net buying on Friday negated the selling pressure of the week as foreign investors net bought RM314.32mil worth of equities.
The largest foreign outflow was recorded on Thursday at RM164.78mil.
“As for the retailers, they were net buyers every day except on Monday. The largest net buying by the retailers was recorded on Thursday at RM87.85mil and the smallest net buying was on Tuesday.
"Cumulatively, for the week, retailers net bought RM227.45mil worth of equities on Bursa,” MIDF said.
Meanwhile, local institutions' cumulative weekly inflow was to the tune of RM303.13mil.
The biggest net selling done by local institutions was on Friday at RM327.90mil.
Conversely, MIDF said the largest net buying was on Thursday to the tune of RM77.33mil.
“Since the beginning of 2021, cumulatively, retailers have been the only net buyers of our equity market to the tune of RM7.32bil.
“Local institutions and foreign investors were net sellers to the tune of RM3.97bil and RM3.34bil, respectively,” MIDF said.
In terms of participation, the retail investors recorded a weekly movement of 0.95% while, local institutions, and foreign investors recorded a weekly movement of 11.55% and 39.41% respectively in average daily trade value.