FOREIGN investors continued to sell equities on Bursa Malaysia for the fourth consecutive week although this came in at a smaller amount of -RM259.8 mil from RM392 mil the week prior.
They net sold every trading session last week and have been net selling for seven straight trading days, according to MIDF Research.
“The heaviest net outflow was -RM104.4 mil on Monday (Nov 11), followed by -RM67.6 mil on Thursday (Nov 14),” observed the research house in its weekly fund flow report.
“Tuesday (Nov 12), Wednesday (Nov 13) and Friday (Nov 15) saw net outflows of -RM17.2 mil, -RM46.6 mil and -RM24.1 mil respectively.”
The top three sectors that recorded net foreign inflows were plantation (RM72.9 mil), healthcare (RM64.0 mil) and property (RM29.0 mil) while the top three sectors that registered net foreign outflows were transportation & logistics (-RM120.2 mil), utilities (-RM98.5 mil) and consumer products & services (-RM79.2 mil).
On the contrary, local institutions were net buyers of Malaysian equities for the fourth consecutive week by amassing RM207.7 mil last week. Except for a minor net selling of -RM1.4 mil on Tuesday (Nov 12), they were net buyers for the rest of the week.
Likewise, local retailers were net buyers last week at RM52.1 mil. They only net sold -RM26.8 mil on Wednesday (Nov 13) but were net buyers for the remainder of the week.
The average daily trading volume (ADTV) showed decliners across all investor classes. Foreign investors registered declines of -8.8% while local institutional investors and local retail investors posted declines of -3.1% and -3.3% respectively.
In comparison with another four Southeast Asian markets tracked by MIDF Research, all stock exchanges incurred outflows of foreign funds led again by Indonesia for a fourth consecutive week at -US$293.4 mil.
For the sixth consecutive week, foreign investors disposed equities in Vietnam at -US$158.8 mil net.
Elsewhere, Thailand recorded its eighth straight week of net foreign outflows which amounted to -US$122.9 mil last week while the Philippines posted its fourth consecutive week of net outflow at -US$101.5 mil.
The top three stocks with the highest net money inflow from foreign investors last week were Malayan Banking Bhd (RM50.3 mil), Alliance Bank Malaysia Bhd (RM50.2 mil) and Johor Plantations Group Bhd (RM44.2 mil), – Nov 18, 2024
Main image credit: Berita RTM
