THE shortened trading week due to the Deepavali festivity saw foreign investors re-emerging as net buyers by mopping up RM292.67 mil of Malaysian equities after seven consecutive weeks of net selling.
Foreign investors were net buyers for every session of the week with the largest inflow seen on Thursday (Oct 27) at RM124.90 mil, according to MIDF Research.
“Tuesday (Oct 25), Wednesday (Oct 26) and Friday (Oct 28) saw inflows of RM51.84 mil, RM82.36 mil and RM33.57 mil respectively,” the research house pointed out in its weekly fund flow report.
The top three sectors which saw net inflows by foreign investors last week were financial services at RM246.2 mil, telecommunications & media (RM60.8 mil) and consumer products & services (RM37.4 mil).
Meanwhile, the three sectors with net outflows were plantation at -RM35.40 mil, construction (-RM31.70 mil) and transportation & logistics (RM19.3 mil).
On the contrary, local institutions turned net sellers after five weeks of net buying. They net sold every trading session of the week, resulting in a net selling totalling -RM195.89 mil last week.
The heaviest outflow was on Thursday (Oct 27) at RM -99.15 mil. They also net sold -RM15.18 mil on Tuesday (Oct 25), Wednesday (Oct 26) (-RM19.59 mil) and Friday (Oct 28) (-RM61.97 mil).
Meanwhile, local retailers remained net sellers at -RM96.77 mil. They net sold for three consecutive days before briefly turning net buyers on Friday (Oct 28). Their net selling amount was -RM36.66 mil on Tuesday (Oct 25), Wednesday (Oct 26) (-RM62.76 mil) and -RM25.75 mil (Thursday) (Oct 27) before net buying RM28.40m on Friday (Oct 28).
To-date, international funds have been net buyers for 25 out of the 43 weeks of 202 with a total net inflow of RM6.03 bil while local institutions were net sellers for 30 out of 43 weeks with a total net outflow of –RM8.16 bil.
Local retailers have been net buyers for 27 out of 43 weeks of 2022. Year-to-date, they have been net buyers at RM2.12 bil.
In terms of participation, there was a decline in average daily trade value (ADTV) among foreign investors by -18.96%. As for local retailers and institutions, there were increases of +8.77% and +4.81% respectively.
In comparison with another three Southeast Asian markets tracked by MIDF Research last week, Indonesia again posted the highest inflow by foreign investors at US$273.84 mil followed by Thailand (US$223.25 mil) and Malaysia (US$62 mil). Meanwhile, the Philippines saw an outflow of -US$6.45 mil.
The top three stocks with the highest net money inflow last week were Petronas Chemicals Group Bhd (RM6.2 mil), Press Metal Aluminium Holdings Bhd (RM3.14 mil) and Malayan Banking Bhd (Maybank) (RM2.99 mil). – Oct 31, 2022
