FOREIGN investors remained net seller at Bursa Malaysia for yet another week (Oct 26-30) but at a slower pace of RM190.04 mil, making it the second week whereby the pace of the outflow had slowed.
Cumulatively for October, foreign investors have been a net seller to the tune of RM669.52 mil while on a year-to-date basis, their net selling has reached RM23 bil worth of equities in the local bourse, according to MIDF Research.
In comparison to another three Southeast Asian markets tracked by the research house, Indonesia recorded the least foreign net outflow (US$16.08 mil) while Thailand continued to experience the biggest outflow compare to the others (US$247.40 mil).
In terms of participation, retailers turned net buyer last week with RM106.43 mil worth of equities while local institutions net bought RM83.61 mil during the same period.
This was the third week where there was stronger net buying from retailers after three consecutive weeks as net sellers previously.
“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 against a volatile Malaysian political backdrop,” the research house noted in its weekly fund flow report.
Thus far in 2020, net buying from retailers amounted to RM11.66 bil while institutions bought to the tune of RM10.96 bil.
In terms of participation, retail investors recorded a weekly decrease of 27.64% in average daily trade value (ADTV) while foreign investors experienced an ADTV drop of 11.91% and local institutions at 19.92%.
The top three net money inflow stocks for the week were Inari Amerton Bhd (RM4.07 mil), Malayan Banking Bhd (RM3.76 mil) and Tenaga Nasional Bhd (RM3.43 mil). – Nov 2, 2020
