Bursa sees third straight week of foreign buying

KUALA LUMPUR: Foreign investors remained net buyers on Bursa Malaysia for the week ended Oct 22 with a net inflow of RM587.61mil, according to MIDF Research.

The research house said this was the third consecutive week of net buying by the foreign investors.

MIDF said as the market reopened last Monday, local institutions and retailers were net sellers amounting to RM215.79mil and RM22.20mil. Foreign investors, however, were net buyers to the tune of RM237.99mil.

“Excluding the public holiday on Tuesday, foreign investors were net buyers for every day of the week.

“The largest foreign inflow was recorded on Wednesday with the smallest inflow on Thursday to the tune of RM237.99mil and RM16.78mil respectively,” it said in its weekly fund flow report.

As for the retailers, they were net sellers half of the 4 days-week except on Wednesday and Thursday.

The largest net selling by the retailers was recorded on Monday and the largest net buying was on Thursday to the tune of RM22.20mil and RM95.39mil respectively.

“Cumulatively, for the week, retailers net bought RM74.83mil worth of equities in Bursa,” MIDF said.

On the other hand, local institutions recorded cumulative weekly net selling of RM662.44mil.

MIDF noted that local institutions were net sellers for everyday of the week with the largest net selling on Wednesday to the tune of RM243.95mil, while the smallest net outflow was on Friday amounted to RM90.53mil.

“Since the beginning of 2021, cumulatively, retailers have been the only net buyers of our equity market to the tune of RM10.40bil.

“Local institutions and foreign investors were net sellers to the tune of RM8.22bil and RM2.18bil, respectively.

“However, it is worth noting that foreign investors’ net selling position continues to decline. It was -RM3.75bil on a year-to-date basis as at the end of September 2021,” MIDF said.

In terms of participation the retail investors, local institutions, and the foreign investors recorded a weekly movement of -19.00%, -21.96% and 26.34% respectively in average daily trade value.