FOREIGN funds remained net seller at Bursa Malaysia during the week ended Oct 16 with an outflow of RM237.09 mil which is significantly higher compared to the previous week’s RM28.38 mil.
Cumulatively, foreign investors have been a net seller to the tune of RM809.38 mil thus far in October, according to MIDF Research in its weekly fund flow report.
On the contrary, retailers emerged the net buyers of equities in the local bourse at RM133.15 mil during the five-day trading period, followed by local institutions at RM103.96 mil.
“This marks the fourth consecutive weeks of local institutions as net buyers in Bursa,” noted the research house.
As for the retailers, the MIDF Research observed that they became net buyers again last week after three consecutive weeks as net sellers.
“It began on Tuesday (Oct 13) with net buying of RM81.45 mil and carried for the rest of the week,” observed the research house.
“This is a potential signal for the return of buying appetite for retailers with bargain hunting activities, renewed interest in glove stocks with the surge in COVID-19 cases, and some political uncertainty subsided.”
Comparatively, the last three weeks saw retailers as net sellers to the tune of RM491.32 mil worth of Malaysian equities.
In terms of individual stocks, Hartalega Holdings Bhd recorded the highest net money inflow at RM11.45 mil last week, followed by PPB Group Bhd (RM5.28 mil) and Genting Bhd (RM4.51 mil).
Year-to-date, the net selling by foreign investors has reached RM22.59 bil worth of equities on Bursa Malaysia.
In comparison to another three Southeast Asian markets tracked by MIDF Research, Indonesia recorded the least foreign net outflow (US$40.19 mil) last week while Thailand experienced the biggest outflow (US$ 132.66 mil), presumably due to the state of chaos emanating from political protests in the country.
The Philippines recorded an outflow of US$74.67 mil.
