NET selling by foreign investors extended to its 10th consecutive week on Bursa Malaysia last week (Dec 23-28) – the longest streak this year – although net outflows shrunk considerably to -RM231.9 mil from -RM1.07 bil the week prior.
They net sold every trading session in the shortened trading week due to the Christmas holiday on Wednesday (Dec 25), according to MIDF Research.
“The highest net outflow was recorded on Monday (Dec 23) at -RM118.5 mil, followed by Tuesday (Dec 24) (-RM52.1 mil), Friday (Dec 27) (-RM36.3 mil) and Thursday (Dec 26) (-RM25.0 mil),” observed the research house in its weekly fund flow report.
“In total, they have been net selling for 27 consecutive trading days.”
The sectors that recorded the highest net foreign inflows were property (RM36.6 mil), industrial products & services (RM31.2 mil) and financial services (RM29.6 mil) while the sectors that recorded the highest net foreign outflows were utilities (-RM119.5 mil), construction (-RM88.5 mil) and healthcare (-RM68.1 mil).
In contrast, local institutions continued to support the local bourse for the 10th consecutive week with net domestic equity purchases totalling RM416.9 mil.
Unlike foreign funds, they net bought every trading session last week and have been net buying for 27 straight trading days.
However, local retailers turned net sellers of domestic equities with -RM185.0 mil in net disposals after briefly net bought RM13.8 mil last week.
The average daily trading volume (ADTV) saw declines across the board last week. Foreign investors saw a dip of -60.2% while local retailers and local institutions saw declines of -30.6% and -38.9% respectively.
In comparison with another four Southeast Asian markets tracked by MIDF Research, all four saw a return of foreign funds to their shores led by Thailand with net purchases of US$40.4 mil last week after four consecutive weeks of net selling.
Elsewhere, Vietnam received a net foreign fund inflow of US$10.4 mil after three successive weeks of net outflows while foreign investors net bought US$8.0 mil of equities in Indonesia after two weeks of net selling.
Likewise, foreign investors also net bought US$3.7 mil of equities in the Philippines last week after being net sellers for nine weeks in a row.
The top three stocks with the highest net money inflow from foreign investors last week were CIMB Group Holdings Bhd (RM72.6 mil), Dialog Group (RM24.2 mil) and UWC Bhd (RM17.4 mil). – Dec 30, 2024
