KUALA LUMPUR: Foreign selloff on Bursa Malaysia saw a slow down last week as offshore investors sold a net of RM61.51mil of local equities against RM511.51mil in the preceding week.
“Year-to-date, local retailers and foreign investors have been net buyers with total net inflows of RM1.64bil and RM6.45bil respectively.
“Meanwhile, local institutions have been net sellers for 20 out of 25 trading weeks with a total net outflow of RM8.09bil,” MIDF Research said in its weekly fund flow report.
The research house said foreign investors were net sellers again last week, particularly on Monday and Wednesday which saw net outflows of RM17.2mil and RM189.5mil respectively.
“Before the heavy selling on Wednesday, they had net bought RM133.7mil worth of Malaysian equities on Tuesday,” it added.
The research house noted that the return to net inflow on Thursday and Friday, amounting to RM5.0mil and RM6.5mil respectively was not enough to turn the tide for the week.
“As a result, the week ended with a net outflow of RM61.5mil by foreign investors,” it said.
MIDF said local institutions turned into net sellers again last week after net buying for two consecutive weeks, albeit at a marginal pace of RM7.9mil.
The only days that saw inflows from local institutions were on Wednesday and Friday to the tune of RM146.1mil and RM20.3mil respectively.
Meanwhile, local retailers continued to be net buyers last week with net buying of RM24.5mil on Monday, RM43.4mil on Wednesday and RM36.6mil on Thursday.
As such, the week ended with the local retailers supporting the market with a net buy of RM69.4mil for the week, MIDF said.
In terms of participation, retail investors, institutional investors, and foreign investors have all recorded weekly declines in average daily trade value (ADTV) at 15.0%, 5.9% and 48.0% respectively.
Petronas Chemicals registered the highest net money inflow of RM9.69mil last week. Public Bank saw the second highest net money inflow of RM5.01mil while CIMB Group recorded the third highest net money inflow of RM4.23mil.
On the other hand, Sime Darby Plantation saw the largest net outflow of RM3.58mil last week. TNB posted the second highest net money outflow RM2.84mil and MISC saw the third largest net money outflow of RM2.30mil last week.