Foreigners remain net sellers on Bursa for fifth straight week

  • Markets
  • Monday, 29 May 2023

KUALA LUMPUR: As at last Friday, net foreign selling on Bursa Malaysia had extended to its fifth consecutive week with a net outflow of RM58.7mil.

However, the net foreign sales figure was significantly lower than the RM211mil recorded in the prior week.

According to MIDF Research, Bursa Malaysia has continued to buck the wider regional trend, as foreign investors has bought up Asian equities for four straight weeks.

"Based on the provisional aggregate data for eight exchanges that we track, foreign investors net bought US$3.83bil of Asian equities from Taiwan, South Korea, India, Indonesia and the Philippines.

"The amount was only slightly lower than the previous week by 6.5%," it said in its fund flow report.

In Malaysia, the sectors that saw the most net outflows were financial services (RM122.8mil), consumer products and services (RM68.3mil) and REITs (RM21.9mil).

The sectors with leading inflows were transport and logistics (RM103.8mil), technology (RM58.6mil) and telecommunications and media (RM50.4mil).

Meanwhile, local institutional investors were net sellers last week with RM32.4mil net of equities sold, after four straight weeks of net buying.

Conversely, local retailers turned net buyers to the tune of RM91.1mil after three weeks of net selling.

In terms of participation, there was an increase in average daily trading volume (ADTV) across the board – retailers (1.4%), local institutions (12.6%) and foreigners (18.2%).

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