AFTER five straight weeks of amassing stocks on Bursa Malaysia, foreign investors turned net sellers last week (week ended May 31) by parting ways with -RM1.24 bill worth of Malaysian stocks.
“Foreign investors net sold -RM174.6 mil on Monday (May 27), -RM177.5 mil on Tuesday (May 28), -RM313.4 mil on Wednesday (May 29), -RM86.5 mil on Thursday (May 30) and -RM488.7 mil on Friday (May 31),” observed MIDF Research in its weekly fund flow report.
“The sectors with the highest net foreign inflows last week were technology (RM108.5 mil), transportation & logistics (RM64.8 mil), and property (RM22.4 mil) while those with the highest net foreign outflows were financial services (-RM800.0 mil), utilities (-RM250.7 mil) and plantation (-RM157.4 mil).”
On the contrary, local institutions ended their four-week net selling streak with a net purchase of RM1.03 bil. They net bought every trading day with the highest amount on Friday (May 31) at RM341.9 mil.
Likewise, local retailers also concluded their 11-week streak of net selling by purchasing RM205.9 mil worth of domestic equities last week.
In terms of participation, the average daily trading volume (ADTV) declined for local retailers (-9.0%), and local institutions (-13.6%) but increased for foreign investors (+27.3%).
In comparison with another four Southeast Asian markets tracked by MIDF Research, all recorded net outflows from foreign funds with Thailand posting its second consecutive week of net foreign outflows at -US$320.2 mil.
For the 10th consecutive week, foreign investors continued to exit the Indonesian equity market with net outflows totalling -US$297.8 mil while Vietnamese equities experienced its 13th consecutive week of net selling at -US$240.6 mil followed by the Philippines with a second consecutive week of net foreign outflows totalling -US$138.0 mil.
The top three stocks with the highest net money inflow from foreign investors last week were Inari Amerton Bhd (RM93.4 mil), MyEG Services Bhd (RM88.0 mil) and Guan Chong Bhd (RM74.6 mil). – June 4, 2024
