Retailers continue to be support pillar for Bursa Malaysia

FOREIGN investors remained net sellers for the week ended Feb 19 with an outflow to the tune of -RM466.42 mil.

As market reopened on Monday (Feb 15) last week, foreign investors bought RM2.62 mil net of local equities with retailers and local institutions being net buyers and sellers respectively to the tune of RM66.55 mil and -RM69.17 mil respectively.

“Contrary to expectation, ie the Prime Minister’s announcement on arrival of the Pfizer-BioNTech COVID-19 vaccine in Malaysia on Feb 21 (yesterday), this did not spark massive inflow of foreign investments into our equity market,” MIDF Research pointed out in its weekly fund flow report.

Foreign investors were net sellers every day except Monday (Feb 15) during last week. But the inflow was insufficient to reverse the negative momentum.

The largest foreign outflow was recorded on Thursday (Feb 18) at -RM189.58 mil while the smallest outflow was on Tuesday (Feb 16) at -RM16.37 mil.

|Nevertheless, it was the opposite for retailers,” noted the research house. “Retailers were net buyers every day last week.”

The largest net buying was recorded on Thursday (Feb 18) at RM199.84 mil while the smallest net purchase was on Monday (Feb 15) at RM66.55 mil.

Meanwhile, local institutions were net sellers every day of the week, except Wednesday (Feb 17).

Their weekly outflow came to the tune of -RM232.64 mil with the biggest outflow posted on Tuesday (Feb 16) while the smallest was recorded on Thursday (Feb 18) at -RM10.26 mil.

On a cumulatively basis, retailers are the only net buyers in the local bourse since the beginning of 2021 to the tune of RM2.81 bil. Local institutions and foreign investors are net sellers to the tune of -RM1.58 bil and -RM1.22 bil respectively.

In comparison to another three Southeast Asian markets tracked by MIDF Research last week, all markets experienced net outflow last week with Malaysia recorded the highest level at -US$115.48 mil followed by Thailand (-US$84.27 mil), Indonesia (-US$60.48 mil) and the Philippines (-US$58.47 mil).

In terms of participation, the retail investors, foreign investors and local institutions recorded a weekly increase of +64.75%, +49.04% and +48.20% in average daily trade value (ADTV) respectively.

The top three stocks with the highest net money inflow last week were Public Bank Bhd (RM13.26 mil) followed by Dialog Group Bhd (RM3.27 mil) and MISC Bhd (RM2.88 mil) – Feb 22, 2021


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