Foreign funds on selling spree last week with RM615m of outflow from Bursa Malaysia

FOREIGN investors net sold equities on Bursa Malaysia valued at -RM613.0 mil last week after briefly net bought RM10.2 mil the week prior.

The week saw foreign investors net selling every trading session with most outflow seen on Monday (Oct 16) at -RM208.7 mil, according to MIDF Research.

“They have been selling for six consecutive days,” the research house pointed out in its weekly fund flow report.

There were only three sectors that saw net buying by foreign investors, namely utilities (RM28.5 mil), property (RM20.8 mil) and REITs (RM5.4 mil).

Sectors with the highest amount of net outflows were financial Services (-RM337.1 mil), consumer products & services (-RM100.6 mil) and telecommunications & media (-RM51.4 mil).

Year-to-date (YTD), foreign investors have net sold -RM3.73 bil worth of equities from Bursa Malaysia.

On the contrary, local institutions maintained their net buying stance for the third straight week at RM618.3 mil. They net bought every trading session with the strongest net buying activity on Monday (Oct 16) at RM221.7 mil.

However, local retailers continued being net sellers on Bursa Malaysia though at a much-moderated amount of RM5.3 mil as compared to -RM147.1 mil the week before. YTD, they have net sold -RM660.6 mil.

In terms of participation, there was an increase in average daily trading volume (ADTV) among foreign investors by +31.6% while retail and institutional investors saw declines of -2.2% and -6.7% respectively.

In comparison with another four Southeast Asian markets tracked by MIDF Research last week, only Vietnam posted a net inflow of US$31.6 mil while Indonesia posted the highest net outflow with -US$208.3 mil followed by Malaysia (-US$129.0 mil), Thailand (-US$111.5 mil) and the Philippines (-US$23.8 mil).

The top three stocks with the highest net money inflow from foreign investors last week were YTL Power International Bhd (RM34.1 mil), Malayan Banking Bhd (Maybank) (RM20.8 mil) and Petronas Gas Bhd (RM18.4 mil). – Oct 23, 2023

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