Thursday 01 Jun 2023
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KUALA LUMPUR (Oct 11): Foreign investors turned net buyers last week with a net inflow of RM293.36 million, from an outflow of RM341.94 million previously.

In its weekly fund flow report on Monday, the MIDF Research team said it was the first week of net buying by foreign investors, after one week of outflow previously.

It said as the market reopened on Monday last week, local institutions were net buyers amounting to RM103.04 million.

“Meanwhile, retailers and foreign investors were net sellers to the tune of RM19.09 million and RM83.94 million respectively.

“Foreign investors were net buyers for the majority of the week except on Monday and Tuesday.

“The largest foreign inflow was recorded on Wednesday and the largest outflow on Monday to the tune of RM135.62 million and RM83.94 million respectively,” it said.

MIDF said as for retailers, they were net sellers for the majority of the day except on Tuesday and Friday.

It said the largest net selling by retailers was recorded on Wednesday and the largest net buying was on Tuesday to the tune of RM38.71 million and RM23.88 million respectively.

It said that cumulatively, for the week, retailers net sold RM68.01 million worth of equities on Bursa Malaysia.

“Meanwhile, local institutions recorded cumulative weekly net selling to the tune of RM225.33 million.

“Local institutions were net sellers for every day of the week except on Monday with the largest net selling on Friday to the tune of RM125.92 million, while the only inflow on Monday amounted to RM103.04 million,” it said.

MIDF said since the beginning of 2021, cumulatively, retailers were the only net buyers of our equity market to the tune of RM10.40 billion.

It said local institutions and foreign investors were net sellers to the tune of RM6.71 billion and RM3.69 billion respectively.

MIDF said in terms of participation, retail investors, local institutions and the foreign investors recorded weekly movements of -15.32%, +15.07% and +32.12% respectively in average daily trade value (ADTV).

Commenting on regional markets, MIDF said equity markets worldwide were on a roll last week on the back of growing sentiment on a global recovery.

“It is worth noting that the FBM KLCI saw a significant improvement last week, increasing by 2.59%, influenced by strong buying momentum of commodity stocks, namely plantation and energy, and tracking the performance of regional markets.

“In the US, the unemployment rate declined for the third straight month to 4.8% from 5.2%, which was at a slower-than-expected pace,” it said.

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