Foreign investors buy RM286mil of Malaysian equities: MIDF Research

KUALA LUMPUR: Foreign investor turned net buyer of Malaysian equities for the week ended March 5, with an inflow of RM285.83 million, MIDF Research said.

In a report today, the firm said on a year to date basis, foreign net selling this year had come in lower than the same period last year.

It said net selling by foreigners stood at RM1.42 billion for 2021 thus far, compared to RM3.30 billion over the same period in 2020.

MIDF Research said since the beginning of 2021, cumulatively, retailers had been the only net buyers of local equity market to the tune of RM4.05 billion.

Local institutions and foreign investors were net sellers to the tune of RM2.64 billion and RM1.42 billion respectively.

MIDF Research said as the market reopened last Monday, foreign investors bought RM50.30 million net of local equities, with retailers and local institutions as net buyers and net sellers to the tune of RM121.06 million and -RM171.36 million respectively.

It said foreign investors were net buyers every day except Thursday during last week, echoing the positive sentiment emanating from the roll-out of the Covid-19 vaccine programme in Malaysia, and lifted Movement Control Order (MCO) in Kuala Lumpur, Selangor, Penang and Johor which came into effect on March 5.

As for the retailers, MIDF Research said they were net buyers every day last week.

The largest net buying was recorded on Monday at RM121.06 million and the smallest net purchase was on Tuesday at RM22.45 million, it said.

Meanwhile, MIDF Research said local institutions were net sellers every day of the week, except on Thursday.

The mixed ending was recorded after four weeks pattern of net selling this year.

Cumulative weekly outflow was to the tune of RM590.40 million, it said.

MIDF Research said the biggest net selling was on Tuesday at RM262.62 million while the smallest net selling was on Friday at RM83.34 million.

In terms of participation, the retail investors, foreign investors and local institutions recorded a weekly decrease of 21.51 per cent, 30.48 per cent and 22.37 per cent in average daily trade value respectively.

Source: NST