KUALA LUMPUR: Foreign funds continued to be net buyers on Bursa Malaysia in the week ended Oct 15 at RM924.70mil, which was the second week of net buying, MIDF Research said.
In its fund flow report on Monday, MIDF said foreign investors were net buyers for every day of the week.
“Largest foreign inflow was recorded on Friday with the smallest inflow on Thursday to the tune of RM303.22mil and RM79.99mil respectively,” it said.
MIDF Research said as for the retailers, over the week, they were net sellers at -RM78.64mil.
Local institutions recorded cumulative weekly net selling to the tune of -RM846.14mil.
Local institutions were net sellers for everyday of the week with largest net selling on Wednesday to the tune of -RM245.86mil, while the smallest net outflow was on Thursday amounted to -RM47.13mil.
MIDF Research said since the beginning of 2021, cumulatively, retailers have been the only net buyers on Bursa at RM10.32bil.
Local institutions and foreign investors were net sellers to the tune of -RM7.56bil and -RM2.77bil, respectively.
“However, it is worth noting that foreign investors’ net selling position continue to decline. It was -RM3.75bil on a year-to-date basis as at end of September 2021,” it said.
MIDF Research also said Public Bank recorded net money inflow of RM2.68mil last week. Its share price climbed 2.94% for the week, outperforming the local bourse which had a +2.20% weekly increase.
Gamuda saw the second highest net money inflow of RM1.85mil. Its share price rose by 9.57% r during the week, outperforming the FBM KLCI’s 2.20% increase.
Nonetheless, it is notable that net money inflow amidst retreating share price may indicate a buy on weakness (BOW) stance among some investors.
Bursa saw the third highest net money inflow of RM1.71m. Its share price climbed +5.83% during the week.
However, CIMB saw the largest net money outflow of -RM4.58mil last week. Its stock price was ended +5.10% higher, outperforming the KLCI.
Meanwhile, Top Glove recorded the second largest net money outflow -RM2.11mil during the week under review. Its share price ended -0.72% lower during the week.
Vitrox registered the third largest net money outflow of -RM1.94mil in the review week. Its share price was +0.51% higher during the week under review.