KUALA LUMPUR, Dec 13 — Foreign investors continued to be net sellers last week for the third consecutive week, albeit at a slower pace, MIDF Research said.
It said they sold RM383.76 million net of local equities against RM550.90 million net in the preceding week.
“Foreign investors were net sellers every day of the week. The largest foreign outflow was recorded on Monday (at RM191.82 million) and the least was on Thursday, when net selling came in at RM14.82 million,” the research house said.
On Monday, local institutions and retailers were net buyers, amounting to RM133.90 million and RM57.93 million, respectively.
MIDF Research said retailers were net buyers each day for the week, with the largest net buying recorded on Friday at RM72.13 million.
“For the week, retailers net bought RM222.60 million worth of equities in Bursa Malaysia,” it said.
Meanwhile, MIDF Research said the local institutions recorded cumulative weekly net buying to the tune of RM161.17 million and were net buyers for all days of the week except on Thursday.
“The largest net buying on Monday to the tune of RM133.90 million, while the only net outflow on Thursday amounted to RM14.21 million,” it said.
It explained that retailers had been the only net buyers in the local equity market, cumulatively, this whole year to the tune of RM12.32 billion.
“Local institutions and foreign investors were net sellers to the tune of RM9.53 billion and RM2.78 billion, respectively,” it said.
Last week, local institutions recorded cumulative weekly net buying of RM161.17 million.
In terms of participation, MIDF Research said the retail investors, local institutions and foreign investors recorded a weekly movement of -48.45 per cent, -48.93 per cent and -69.45 per cent, respectively, in average daily trade value (ADTV).
On top stocks in terms of net money inflows, it said Press Metal recorded the highest inflow of RM1.95 million last week, followed by MISC (RM1.55 million) and Bursa Malaysia (RM1.27 million).
As for the top net money outflows, MIDF Research said Public Bank saw the largest net money outflow of RM11.73 million, followed by Petronas Chemicals which recorded the second biggest outflow of RM3.98 million and Tenaga Nasional with an outflow of RM2.63 million.
On another note, MIDF Research said Brent crude oil price saw an increase of 7.54 per cent weekly movement last week to close at US$75.15 per barrel (US$1=RM4.21) on Friday.
Bursa Malaysia’s barometer index, the FTSE Bursa Malaysia KLCI, dropped by 0.86 per cent for the week to settle at 1,488.88 points. — Bernama
