KUALA LUMPUR, May 9 — Foreign investors were net sellers with net outflows of RM365.7 million for the week ended May 6, after being net buyers for a mere two weeks, said MIDF Amanah Investment Bank Bhd (MIDF Research).

In its weekly Fund Flow Report today, the investment bank said local retailers remained net buyers for the fourth consecutive week amounted to RM202.8 million, while local institutions snapped their net selling streak for 12 weeks with a net buying position of RM162.9 million last week.

"To date, international funds have been net buyers for 14 out of the 18 weeks of 2022, with a total net inflow of RM6.92 billion. They were net sellers on both trading days, amounting to RM143.1 million on Thursday and RM222.6 million,” it said.

MIDF Research said due to the Aidilfitri festival and the Labour Day replacement holiday, there were only two trading days last week, namely on Thursday and Friday.

It said local institutions were net buyers on both days, registering RM71.9 million on Thursday and RM91.1 million on Friday.

Besides, it said they have been net sellers for 15 out of 18 weeks this year and to date, they have sold RM7.8 billion of equities.

"Local retailers were also net buyers on both trading days, recording RM71.3 million on Thursday and RM131.5 million on Friday,” it added.

The investment bank said for the year-to-date, local retailers have been net buyers at RM875.5 million.

In terms of participation, foreign investors saw an increase in the average daily trade value (ADTV) by 63.18 per cent.

Local retailers saw an increase of 4.29 per cent while local institutions saw a decline of 9.14 per cent.

MIDF Research revealed that Hengyuan Refining Company Bhd registered the highest net money inflow of RM4.29 million last week while Malayan Banking Bhd saw the largest net money outflow of RM7.11 million. — Bernama