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Intensified selling of Malaysian equities by foreign funds last week – Free Malaysia Today

PETALING JAYA: Foreign investors remained net sellers for the fourth consecutive week as they disposed of RM731.8 million worth of stocks on Bursa Malaysia, more than double the  amount net sold the previous week (RM301.2 million), according to MIDF Research.
MIDF Research said every trading day last week was a net selling day for the foreigners, with the heaviest net selling recorded on Wednesday at RM259.1 million, followed by Monday at RM196.7 million.
“They net sold at lower rates on Tuesday at RM90.4 million, Thursday at RM99.9 million and ended the week by net selling RM85.6 million,” it said in a research note today.
The only three sectors that saw net foreign inflows were construction at RM68.2 million, transportation and logistics at RM11.1 million and real estate investment trusts (REITs) at RM1 million.
The top three sectors that saw net foreign outflows were financial services at RM459.7 million, industrial products and services at RM100 million and plantation at RM78.3 million.
Local institutions continued to net buy for the second consecutive week on the back of a more stable domestic political climate which boosted investor sentiment, buying shares worth RM680.4 million last week – the highest amount recorded this year.
Foreign investors had been net buyers for 27 out of the 49 weeks of 2022, with total net inflows of RM4.80 billion, whereas local institutions were net sellers for 32 out of 49 weeks, with total net outflows of RM6.89 billion.
“Local retailers had been net buyers for 31 out of 49 weeks. Year-to-date, they had been net buyers at RM2.09 billion.
“In terms of participation, there was a decline in the average daily trading volume (ADTV) among foreign investors, local institutions, and retailers by 51.1%, 23.6% and 11.2% respectively,” it said.
In terms of regional performance, foreign investors broke their six-week net buying streak last week and investors classified as “foreign” net sold US$2.71 billion, the highest that they had net sold since the week ended Sept 30, 2022.
“There had been 20 weeks of net buying and 29 weeks of net selling so far this year and the net outflows by foreign investors from Asian equities that we tracked were led by Taiwan, Korea, and Indonesia,” it added.
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