Foreign investors are Bursa’s net sellers for third week in a row

KUALA LUMPUR: Foreign investors continued to be net sellers on Bursa Malaysia last week with an outflow of RM323.98 million, according to MIDF Research.

The firm said this was the third consecutive week of net selling by the foreign investors.

As the market reopened last Monday, foreign investors sold RM25.70 million net of local equities, with retailers as net buyers and local institutions as net sellers to the tune of RM29.94 million and RM4.24 million respectively.

“Foreign investors were net sellers every day last week except on Friday.

“The largest foreign outflow was recorded on Thursday with the smallest outflow on Tuesday to the tune of RM199.46 million and RM23.02 million respectively.

“The net buying on Friday amounted to RM28.52 million,” it said.

As for the retailers, MIDF Research said they were net buyers every day of the week except on Friday.

The largest net buying by the retailers was recorded on Thursday at RM133.29 million and smallest net buying was on Monday at RM29.94 million.

“Cumulatively, for the week, retailers net bought RM311.87 million worth of equities in Bursa,” the fim said.

MIDF Research said local institutions recorded cumulative weekly inflow of RM12.10 million.

Local institutions were net sellers on the majority of days last week with net selling occurring on Monday, Tuesday and Friday.

“Conversely, the largest net buying was on Thursday to the tune of RM66.17 million,” it said.

The firm said since the beginning of 2021, cumulatively, retailers had been the only net buyers of the equity market with RM8.52 billion.

“Local institutions and foreign investors were net sellers to the tune of RM3.88 billion and RM4.64 billion respectively.

“In terms of participation the retail investors, local institutions and the foreign investors recorded a weekly movement of 21.64 per cent, 18.76 per cent and 0.34 per cent respectively in average daily trade value,” it added.

Source: NST