FOREIGN investors continued to exit Bursa Malaysia for the second consecutive week last week (June 24-28) with an outflow totalling -RM357.7 mil – a sum slightly lesser than -RM441.1 mil on the week prior.
They recorded net outflow of -RM164.3 mil on Monday (June 24), -RM76.3 mil on Tuesday (June 25) and -RM265.7 mil on Thursday (June 27), according to MIDF Research.
“However, they net bought RM18.0 mil on Wednesday (June 26) and RM130.7 mil on Friday (June 28),” observed the research house in its weekly fund flow report.
The sectors that recorded the highest net foreign inflows last week were industrial products & services (RM104.4 mil), technology (RM67.6 mil) and property (RM34.7mil) while the sectors that registered the highest net foreign outflows were financial services (-RM206.9 mil), consumer products & services (-RM131.4 mil) and construction (-RM110.1 mil).
On the reverse, local institutions maintained their support for the local bourse, marking a second consecutive week of net buying totalling RM354.9 mil.
Similarly, local retailers also continued their net buying trend for the second consecutive week which amounted to RM2.7 mil.
In terms of participation, there were declines in average daily trading volume (ADTV) among all investor classes last week. Foreign investors recorded the largest decline of -34.4% while local retailers and local institutions recorded declines of -19.5% and -15.1% respectively.
In comparison with another four Southeast Asian markets tracked by MIDF Research, foreigners returned to Indonesia after a brief period of net selling the previous week by mopping up net purchases of US$29.9 mil.
After experiencing five consecutive weeks of net foreign outflows, the Philippines also saw a marginal return of foreign funds amounting to US$200,000 last week.
Elsewhere, Thailand saw its sixth consecutive week of net foreign outflows totalling -US$238.5 mil while Vietnam maintained a trend of net foreign outflows amounting to -US$178.6 mil last week, continuing a pattern observed since early March 2024.
The top three stocks with the highest net money inflow from foreign investors last week were VS Industry Bhd (RM94.2 mil), My EG Services Bhd (RM58.7 mil) and AMMB Holdings Bhd (RM44.9 mil) – July 1, 2024
