Offshore funds sell RM365.7mil net of local equities

KUALA LUMPUR: Foreign investors were net sellers on Bursa Malaysia in the holiday-shortened week ended May 6, 2022, with RM365.7mil net of equities sold.

After two weeks of net inflow, MIDF research data show that offshore funds returned to a risk-off mood on the domestic market, in line with the wider Asian investment sentiment.

"Based on the provisional aggregate data for the seven Asian exchanges that we track, investors classified as “foreign” sold -USD1.82b net last week," said MIDF in its weekly fund flow report.

In Southeast Asia, Malaysia led the foreign selling, ahead of net outflow in the Philippines and Thailand.

To date, international funds have been net buyers for 14 out of the 18 weeks of 2022, with a total net inflow of RM6.92bil.

Meanwhile, retailers on the domestic market were net buyers for a fourth consecutive week with RM202.8mil net purchases.

This brought their net purchases in 2022 so far to RM875.5mil

Local institutions turned net buyers after 12 weeks of net sales, recording a net buying position of RM162.9mil last week.

Year-to-date, local institutions have been net sellers of RM7.8bil in Bursa Malaysian equities.

In terms of participation, foreign investors saw an increase in the average daily trade value (ADTV) by 63.18%.

Local retailers saw an increase of 4.29% while local institutions saw a decline of 9.14%.