AS the FBM KLCI dived below its psychological 1,600-pointl level last week, so did the selling streak by foreign investors which extended to the ninth consecutive week with net outflows totalling-RM1.07 bil last week (Dec 16-20) from the prior week’s -RM761.4 mil.
They recorded net selling every trading session last week with the highest outflow recorded on Tuesday (Dec 17) at -RM368.0 mil. This was followed by Friday (Dec 20) (-RM235.2 mil), Monday (Dec 16 (-RM176.3 mil), Wednesday (Dec 18) (-RM150.2 mil) and Thursday (Dec 19) (-RM135.4 mil).
“The sectors that recorded the highest net foreign inflows were property (RM42.6 mil), technology (RM40.2 mil) and plantation (RM29.4 mil),” observed MIDF Research in its weekly fund flow report.
“The sectors that posted the highest net foreign outflows were financial services (-RM500.5 mil), healthcare (-RM168.9 mil) and utilities (-RM160.5 mil).”
In contrast, local institutions continued to support the local bourse for the ninth consecutive week with net purchases totalling RM1.05 bil in domestic equities.
Likewise, local retailers turned net buyers of domestic equities with net purchases amounting to RM13.8 mil after four straight weeks of net selling.
The average daily trading volume (ADTV) increased across all investor categories last week. Local retail investors and foreign investors recorded double-digit increases, rising by +10.2% and +20.9% respectively, while local institutional investors saw a more modest increase of +5.7%.
In comparison with another four Southeast Asian markets tracked by MIDF Research, Indonesia topped the list with a second consecutive week of net foreign outflows of -US$253.4 mil.
This was on the back of a net selling trend across the eight Asian markets tracked last week with total outflows surging to -US$4.70 bil, a figure which is 2.6 times higher than the prior week.
Elsewhere, Thailand recorded a fourth week in a row of net foreign outflows at -US$123.8 mil followed by the Philippines with a ninth successive week of sustained net foreign outflows of -US$69.9 mil and Vietnam with a third straight week of net foreign outflows of -US$52.3 mil.
The top three stocks with the highest net money inflow from foreign investors last week were MY E.G. Services Bhd (RM42.6 mil), United Plantations (RM38.1 mil) and Sunway Bhd (RM30.1.3 mil), – Dec 16, 2024
