FOREIGN investors continued their selling spree on Bursa Malaysia for the fifth consecutive week with outflows totalling -RM165.3 mil as foreigners continued to dump Asian equities for the eighth consecutive week.
Except on Tuesday (Nov 19) which saw an inflow of RM66.3 mil, the other four trading days experienced bouts of net foreign outflow, according to MIDF Research.
“The heaviest outflow was recorded on Thursday (Nov 21) at -RM134.5 mil followed by Wednesday (Nov 20) at -RM47.1 mil, Friday (Nov 22) at -RM39.6 mil and Monday (Nov 18) at -RM10.6 mil,” observed the research house in its weekly fund flow report.
The top three sectors that saw net buying activities by foreign investors were property (RM47.2 mil), construction (RM36.7 mil) and industrial (RM35.3 mil) while the top three sectors which encountered net selling were utilities (-RM90.6 mil), transport and logistics (RM67.4 mil), and consumer (-RM58.8 mil).
On the contrary, local institutions were the primary supporters of the local bourse with a net inflow of RM250.6 mil.
Although Tuesday (Nov 19) saw an outflow of -RM19.6 mil from this investor class, the inflows on other days of the week more than compensated for the outflow.
However, local retailers turned net sellers last week (Nov 18-22) with outflows totalling -RM85.3 mil. Every trading day saw an outflow from this investor group except for Thursday (Nov 21) which recorded a net inflow of RM12.7 mil.
The average daily trading volume (ADTV) showed declines across all investor categories. Foreign investors recorded a decline of -3.6% while local institutional investors and retail investors saw decreases of -5.7% and -6.1% respectively.
In comparison with another four Southeast Asian markets tracked by MIDF Research, only Thailand posted a net inflow of US$26.1 mil following eight successive weeks of outflows.
Elsewhere, foreign investors continued to pull out of the Indonesian equity market for the fifth consecutive week with a net outflow of -US$229.9 mil.
They also continued to retreat from the Vietnamese equity market for the seventh week in a row with net outflows amounting to -US$204.7 mil while the net foreign outflow in the Philippines extended to a five-week streak with -US$49.7 mil.
The top three stocks with the highest net money inflow from foreign investors last week were CIMB Group Holdings Bhd (RM47.8 mil), Gamuda Bhd (RM30.9 mil) and Sunway Bhd (RM19.6 mil), – Nov 18, 2024
