FOREIGN investors left Bursa Malaysia last week at a rate of -RM441.1 mil after two consecutive weeks of net inflows.
Foreign investors net sold every day in the shortened trading week in conjunction with the Hari Raya Haji holiday on Monday (June 17), according to MIDF Research.
“They net sold -RM80.3 mil on Tuesday (June 18), -RM120.3 mil on Wednesday (June 19), -RM64.7 mil on Thursday (June 20) and -RM175.8 mil on Friday (June 21),” revealed the research in its weekly fund flow report.
The sectors which recorded the highest net foreign inflows last week were industrial products & services (RM130.4 mil), technology (RM65.3 mil), and transportation & logistics (RM64.0 mil).
Meanwhile, the sectors with the highest net foreign outflows were financial services (-RM529.9 mil), healthcare (-RM56.2 mil), and plantation (-RM36.4 mil).
On the contrary, local institutions returned to net buying mode last week by mopping up RM274.0 mil worth of equities after two weeks of net selling.
They only net sold -RM27.9 mil on Thursday (July 20) but net bought RM57.5 mil on Tuesday (June 18), RM66.9 mil on Wednesday (June 19) and RM177.5 mil on Friday (June 21).
Similarly, local retailers made net purchases of RM167.1 mil last week after two straight weeks of net selling. They only net sold -RM1.7 mil on Friday (June 21) but net bought throughout the rest of the week.
In terms of participation, there was an increase in average daily trading volume (ADTV) of +36.1% among foreign investors but there were declines of -18.1% and -11.1% among local retailers and local institutional investors respectively.
In comparison with another four Southeast Asian markets tracked by MIDF Research, all incurred foreign fund outflows last week with Thailand leading the pack with fifth consecutive week of net selling at -US$290.7 mil.
In Vietnam, foreign investors continued their net selling spree which extended to the 16th week at -US$195.1 mil.
After a brief net buying spell the prior week, foreign investors returned to net selling mode in Indonesia with an outflow of -US$51.9 mil while the Philippines saw a fifth consecutive week of net selling at -US$46.8 mil.
The top three stocks with the highest net money inflow from foreign investors last week were VS Industry Bhd (RM96.1 mil), Press Metal Aluminium Holdings Bhd (RM73.6 mil) and Inari Amerton Bhd (RM72.3 mil). – June 24, 2024
