THE net selling trend by foreign investors on Bursa Malaysia has now stretched into its sixth consecutive week at -RM336.0 mil for the week ended April 5, a selling streak that was last seen since mid-2023 when they net sold for 12 straight weeks.
This widens the year-to-date (YTD) net foreign outflow to -RM1.21 bil, according to MIDF Research.
“They net sold -RM99.4 mil on Monday (April 1), -RM253.4 mil on Wednesday (April 3) and -RM132.7 ml on Friday (April 5) but net bought RM134.3 mil and RM15.2 mil on Tuesday (April 2) and Thursday (April 4) respectively,” MIDF Research pointed out in its weekly fund flow report.
The sectors with the highest net foreign inflows were property (RM104.4 mil), construction (RM36.9 mil) and healthcare (RM14.6 mil) while sectors that recorded the highest net foreign outflows were financial services (-RM417.0 mil), industrial products & services (-RM46.0 mil) and consumer products & services (-RM29.9 mil).
In contrast, local institutions persisted in their net buying trend for the sixth consecutive week with a net purchase of RM557.4 mil. They only net sold -RM81.3 mil on Tuesday (April 2) but were net buyers for the rest of the week amounting to RM638.7 mil.
However, local retailers maintained their net selling stance on Bursa Malaysia for the fourth straight week with a net disposal of -RM221.4 mil. They net sold every trading session of last week and have been net selling for 21 consecutive trading days.
Regarding participation, the average daily trading volume (ADTV) declined across all investor classes last week. Foreign investors saw a dip of -15.7% while retail and institutional investors saw declines of -0.5% and -1.8% respectively.
In comparison with another four Southeast Asian markets tracked by MIDF Research, Thailand was the only market whereby foreign investors net bought US$50.5 mil after five consecutive weeks of net selling.
Indonesia saw the largest net foreign outflow last week at -US$472.5 mil – its second consecutive week of net selling – while Vietnam posted its fifth consecutive week of net selling at -US$87.8 mil.
Meanwhile, foreign investors in the Philippines maintained their net selling stance for the second straight week with a net disposal of -US$9.0 mil.
The top three stocks with the highest net money inflow from foreign investors last week were Axiata Group Bhd (RM38.4 mil), Tenaga Nasional Bhd (RM34.7 mil) and Sunway Bhd (RM30.4 mil). – April 8, 2024
