THE net selling by foreign investors on Bursa Malaysia has stretched into its ninth consecutive week with net foreign outflows amounting to -RM189.4 mil last week (June 12-16).
Foreign funds have been sellers for 18 out of 24 weeks this year with a total net foreign outflow of -RM3.66 bil, according to MIDF Research.
“Every trading day last week was a net selling day by the foreigners except on Monday (June 12) when they were picking up counters such as Maybank (RM17.7 mil), RHB Bank Bhd (RM8.6 mil) and YTL Corp Bhd (RM8.5 mil),” observed the research house.
The top three sectors that posted net foreign inflows were transportation & logistics (RM103.9 mil), construction (RM28.4 mil) and consumer products & services (RM14.3 mil) while the top three sectors that recorded net foreign outflows were financial services (-RM141.4 mil), plantation (-RM60.1 mil) and industrial products & services (-RM50.4 mil).
Thankfully, local institutional investors remained net buyers for the third consecutive week at RM81.2 mil. Year-to-date (YTD), they have been net buyers of domestic equities for 18 out of 24 weeks with a total net inflow of RM3.20 bil.
Elsewhere, local retailers also remained net buyers for the fourth consecutive week after net buying RM108.3 mil. YTD, local retailers have been net buyers for 13 out of 24 weeks with total net buying amounting to RM418.2 mil.
In terms of participation, there was an increase in average daily trading volume (ADTV) across the board – retailers (+13.7%), local institutions (+15.1%) and foreigners (+46.5%).
In comparison with another four Southeast Asian markets tracked by MIDF Research last week, only the Philippines and Vietnam posted a net inflow of foreign funds with US$99.9 mil and US$72.8 mil respectively while Indonesia had the highest net outflow with -US$175.8 mil followed by Thailand (-US$85.4 mil) and Malaysia (-US$41.0 mil).
The top three stocks with the highest net money inflow from foreign investors last week were Westports Holdings Bhd (RM69.9 mil), YTL Corp Bhd (RM46.9 mil) and Malaysia Airports Holdings Bhd (RM34.6 mil). – June 19, 2023
