Bursa Malaysia records net foreign fund outflow of RM441.1mil

KUALA LUMPUR: Foreign investors exited the domestic market on every day of the past week, leading to a cumulative net outflow of RM441.1mil.

The net disposal of Malaysian equities comes after two consecutive weeks of net purchases, as Bursa Malaysia succumbed to profit-taking following a period of strong gains.

The outflow of foreign funds was in the line with that of other Asean markets, according to MIDF Research.

In the week ended June 21, 2024, foreign funds left Thailand to the sum of US$290.7mil with net sales on every day of the week.

The same was seen in Indonesia with net sales of US$51.9mil, the Philippines with net disposals of US$46.8mil and Vietnam, with a net selloff of US$195.1mil

According to MIDF's weekly fund flow report, the market's leading sectors in terms of net foreign outflows were financial services (RM529.9mil), healthcare (RM56.2mil) and plantations (RM36.4mil).

Sectors that topped the week's net inflows were industrial products and services (RM130.4mil), technology (RM65.3mil) and transport and logistics (RM64mil).

Meanwhile, local institutions were net buyers of RM274mil after two weeks of net selling. Local retailers were also net buyers after two straight weeks of selling with RM167.mil in net purchases.

"In terms of participation, there was an increase in average daily trading volume (ADTV) of 36.1% among foreign investors and declines of 18.1% and 11.1% among local retailers and local institutional investors respectively," said MIDF.