FOREIGN investors continued to sell off domestic equities for the third consecutive week though at a more moderate pace of -RM45.7 mil for the week ended Oct 11 in stark contrast to the prior week’s 18-week high of -RM1.10 bil.
They only net sold -RM147.9 mil on Monday (Oct 7) and -RM216.6 mil on Friday (Oct 11) but this was enough to negate the inflows recorded from Tuesday (Oct 8) to Thursday (Oct 10) which ranged from RM44.4 mil to RM70.2 mil, according to MIDF Research.
“The sectors that recorded the highest net foreign inflows were consumer products & services (RM98.0 mil), property (RM31.8 mil), and plantation (RM23.7 mil),” observed the research house in its weekly fund flow report.
“The sectors that registered the highest net foreign outflows were financial services (-RM184.5 mil), transportation & logistics (-RM48.0 mil) and healthcare (-RM44.0 mil).”
On the contrary, local institutional investors continued to support the local bourse by having net bought for the fifth consecutive week at RM93.4 mil while local retailers continued to be net buyers of domestic equities for the third consecutive week at RM102.5 mil.
The average daily trading volume (ADTV) fell across all investor categories last week. Retail investors saw a decrease of -0.6% while local institutions and foreign investors posted declines of -5.4% and -6.4%.
In comparison with another four Southeast Asian markets tracked by MIDF Research, the Philippines again emerged the only market which posted a net foreign inflow at US$22.5 mil, stretching such feat to the ninth consecutive week.
Elsewhere, Indonesia posted its third consecutive week of net foreign outflows which amounted to -US$291.0 mil while Thailand encountered net selling by foreign funds to the tune of -US$189.6 mil which also marked its third consecutive week of outflows.
Meanwhile, foreign investors turned net sellers of Vietnamese equities after a brief buying spree the prior week with a net outflow of -US$12.2 mil.
The top three stocks with the highest net money inflow from foreign investors last week were CIMB Group Holdings Bhd (RM105.3 mil), AMMB Holdings Bhd (RM46.0 mil) and 99 Speed Mart Retail Holdings Bhd (RM43.5 mil). – Oct 14, 2024
