KUALA LUMPUR: Foreigners outflow on Bursa Malaysia accelerated last week as foreign investors disposed of RM562.61mil worth of Malaysian equities, compared to net sales of RM186.16mil in the preceding week, marking the third straight week of outflows.
“The net outflow for the week was RM562.61mil, resulting from net selling activities every day of the week. They have been net selling for eight consecutive trading days since Sept 13,” MIDF Research said in its weekly fund flow report.
The research house noted that the bulk of the foreign net outflows were seen on Wednesday, Thursday and Friday at -RM193.63mil, -RM123.36mil and -RM218.03mil respectively.
Foreigners also net sold -RM17.40mil on Monday and -RM10.19mil on Tuesday.
Local institutions net bought RM351.23mil last week, after briefly net selling at a rate of RM4.67mil the week prior.
Meanwhile, local retailers maintained their net buying stance last week at RM211.38mil. They were net buyers every day, with the bulk of the amount coming in on Monday at RM69.55mil and Friday at RM70.09mil.
MIDF noted that the top three sectors which saw net outflows by foreign investors last week were healthcare at -RM178.7mil, financial services at -RM143.5mil and industrial products and services at -RM102.2mil.
Meanwhile, there were only two sectors with net inflows - construction at RM66.9m and telecommunications and media at RM5.2mil.
“To date, international funds have been net buyers for 24 out of the 38 weeks of 2022, with a total net inflow of RM7.36bil.
“Local institutions were net sellers for 29 out of 38 weeks, with a total net outflow of –RM9.56bil. Local retailers have been net buyers for 23 out of 38 weeks of 2022. Year-to-date, they have been net buyers at RM2.19bil,” MIDF said.
In terms of participation, there was a decline in average daily trade value (ADTV) across the board, led by retailers at -15.66%, foreign investors at -15.20% and local institutions at -8.00%.