KUALA LUMPUR, Dec 27 — Foreign investors continued to remain as net sellers of local equities for the fifth consecutive week at RM38.16 million last week compared with RM348.36 million net the preceding week.

MIDF Research said foreign investors were net sellers for the majority of the week except on Wednesday and Thursday, with the largest foreign outflow of RM124.28 million recorded on Tuesday.

“As the market reopened last Monday, local institutions and retailers were net buyers at RM17.58 million and RM31.17 million, respectively,” it said in a note today.

Meanwhile, foreign investors were net sellers to the tune of RM48.75 million.

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The research house said retailers were net buyers for every day of the week except on Wednesday and Tuesday, with the largest net buying by the retailers recorded on Tuesday at RM48.72 million.

“This was not enough to propel the market to a net bought position despite net buying on Monday, Tuesday and Friday,” it said.

For the week, it said retailers net sold RM4.19 million worth of equities in Bursa Malaysia — the first week retailers recorded net selling after nine consecutive weeks of inflows.

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The local institutions recorded cumulative weekly net buying of RM42.36 million for the majority of the week except on Wednesday and Thursday.

“The largest net buying was recorded on Tuesday to the tune of RM75.57 million,” it said.

 Since the beginning of 2021, MIDF Research said cumulatively, retailers have been the only net buyers of the equity market to the tune of RM12.44 billion, while local institutions and foreign investors were net sellers amounted to RM9.27 billion and RM3.17 billion, respectively.

In terms of participation, it said retail investors, local institutions and foreign investors recorded a weekly movement of -18.98 per cent, -24.17 per cent and -48.32 per cent, respectively, in average daily trade value (ADTV).

On top stocks in terms of net money inflows, it said Petronas Chemicals registered the highest inflow of RM5.23 million last week, followed by MISC (RM2.8 million) and HLBB (RM2.76 million).

As for the top net money outflows, MIDF Research said MY EG Public Bank saw the largest net money outflow of RM3.72 million last week, followed by Top Glove (RM1.86 million) and Public Bank (RM1.57 million). 

The FBM KLCI increased 0.96 per cent to settle at 1,516.45 for the week.

As for the ringgit, it saw a weekly appreciation by circa 0.57 per cent against the US dollar to close at RM4.1958 on Friday. — Bernama