Buying streak by foreign funds extends to the 4th week with RM382m of net inflow last week

FOREIGN investors maintained their position as net buyers on Bursa Malaysia for the fourth consecutive week with a total of RM382.8 mil or a significant improvement over RM172.4 mil in the previous week.

They net bought every trading session the week with the highest inflow recorded on Tuesday (Nov 21) at RM232.6 mil.

“They further net bought RM6.5 mil on Monday (Nov 20), RM36.6 mil on Wednesday (Nov 22), RM74.0 on Thursday (Nov 23) and RM33.1 mil on Friday (Nov 24),” MIDF Research pointed out in its weekly fund flow report.

The top three sectors with the highest net foreign inflows were utilities (RM86.4 mil), healthcare (RM85.2 mil) and technology (RM82.0 mil) while the top three sectors with the highest net foreign outflows were consumer products & services (-RM38.9 mil), energy (-RM21.2 mil) and telecommunication & media (-RM20.1 mil).

On the contrary, local institutions continued to net sell for the fourth consecutive week by disposing -RM355.0 mil of equities. They net bought RM11.0 mil worth of equities on Monday (Nov 20) but were net sellers from Tuesday (Nov 21) to Friday (Nov 24).

Likewise, local retailers continued their net selling streak for the seventh consecutive week with net sales amounting to RM27.8 mil. They were net buyers on RM24.6 mil only on Wednesday (Nov 22) but were net sellers for the rest of the week.

In terms of participation, there were increases in average daily trading volume (ADTV) among local retailers by +4.9% and local institutions by +9.8%, but a decline among foreign investors by -5.4%.

In comparison with another four Southeast Asian markets tracked by MIDF Research, both Indonesia and the Philippines posted a net foreign inflow of US$80.1 mil (for a second straight week) and US$18.0 mil last week respectively.

However, Thailand saw the highest net foreign outflow last week at -US$178.4 mil while Vietnam recorded net selling for the third consecutive week at -US$37.6 mil.

The top three stocks with the highest net money inflow from foreign investors last week were Public Bank Bhd (RM76.6 mil), Malayan Banking Bhd (Maybank) (RM53.7 mil) and Top Glove Corp Bhd (RM52.1 mil). – Nov 27, 2023

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