Foreign funds purchase RM477.5mil net of local equities

KUALA LUMPUR: The foreign inflow turned positive on Bursa Malaysia for the week ended JUne 3, 2022 with net purchases of RM477.5mil.

According to MIDF research data, this was in line with the swing to a positive inflow in Asian markets after eight weeks of net outflow.

It said this was owing to the US dollar index (DXY) losing appeal as forecasts of the US non-farm payrolls were trimmed vigorously.

"Based on the provisional aggregate data for the seven Asian exchanges that we track, investors classified as “foreign” bought US$2.3bil last week," it said.

On the local bourse, net buying from foreign investors was recorded from Monday to Wednesday.

The heaviest net inflow came on Tuesday with RM320.8mil net of local equities bought by foreigners.

Meanwhile, local retailers remained net sellers with a net outflow of RM121.4mil.

Local institutions were net sellers for a fourth consecutive week to the tune of RM356.1mil.

In terms of participation, all investor classes except for local retailers showed an improvement for the week.

Foreign investors and local institutions saw an increase in the average daily trade value (ADTV) by 110.3% and +24% respectively.

Meanwhile, local retailers posted a decline of 2.5% in ADTV.