FOREIGN investors turned net sellers on Bursa Malaysia with net outflow amounting to -RM44.7 mil last week following two weeks of net buying.
Year-to-date (YTD), foreign investors have been net sellers after having disposed a total of -RM1.96 bil, according to MIDF Research.
The top three sectors with net foreign outflows for the week were utilities (RM86.7 mil), technology (RM34.9 mil) and property (RM30.7 mil) while the top three sectors that recorded net foreign outflows were financial services (-RM75.7 mil), consumer products & services (-RM41.3 mil) and healthcare (-RM33.3 mil).
“Local institutions continued their net selling trend for the third consecutive week with net sales of -RM98.5 mil,” the research house pointed out in its weekly fund flow report.
“The bulk of the outflow took place on Tuesday (Sept 26), coinciding with the release of Malaysia’s PPI (Producer Price Index) data. The PPI showed improvement for the second consecutive month with a slower contraction of -1.8% in August (July: -2.3%).”
YTD, local institutions have been net buyers by having accumulated RM2.59 bil.
On the contrary, local retailers put an end to their 11-week-long net selling streak with a net purchase of RM143.1 mil worth of domestic equities last week. YTD, retailers have recorded net sales amounting to -RM622.6 mil.
In terms of participation, there was an increase in average daily trading volume (ADTV) among foreign investors by +3.9% last week while local retailers and local institutions saw a decrease of -6.2% and -9.2% respectively.
In comparison with another four Southeast Asian markets tracked by MIDF Research last week, Malaysia posted the lowest net outflow from foreign funds at -US49.5 mil while Indonesia encountered the highest out outflow with -US$183.3 mil followed by the Philippines (-US$176.5 mil), Thailand (-US$83.8 mil) and Vietnam (-US$25.7 mil).
The top three stocks with the highest net money inflow from foreign investors last week were CIMB Group Holdings Bhd (RM129.1 mil), Tenaga Nasional Bhd (RM27.7 mil) and Gamuda Bhd (RM24.9 mil). – Oct 2, 2023
