MIDF: Foreign investors retreat to net selling of RM160.70m of local equities last week

KUALA LUMPUR, Feb 7 — Foreign investors ended their three-week streak of foreign inflow to record cumulative net outflow of RM160.70 million compared with net inflow of RM116.45 million in the preceding week, MIDF Research said.

Last week was a short trading week as the market was closed for the Chinese New Year holiday.

The brokerage noted that foreign investors and retailers sold RM131.68 million and RM10.33 million net of local equities, respectively, while local institutions started the week as net buyers of RM142.02 million.

“The largest net selling by foreign investors was recorded on Monday, while momentum of foreign net inflow on Friday slowed down to RM19.48 million,” MIDF Research said in a note today.

It said retailers were net sellers on Monday and Thursday but turned net buyers on Friday.

“The largest net selling by the retailers was recorded on Monday at RM10.33 million, and the only net buying which was on Friday to the tune of RM24.17 million.

“Despite more days of selling for the week, in total, retailers net bought RM5.24 million worth of equities in Bursa Malaysia,” it said.

Meanwhile, local institutions recorded cumulative weekly net buying of RM155.47 million and were net buyers for majority of the week except on Friday at RM4.69 million.

The brokerage said the largest net buying on Monday amounted to RM142.02 million.

“In terms of participation, the retail investors, local institutions and foreign investors recorded a weekly movement of -17.66 per cent, -33.24 per cent and 2.90 per cent, respectively, in average daily trade value,” MIDF Research said.

It said Press Metal Aluminium Holdings Bhd registered the highest net money inflow of RM1.94 million last week, but its share price was 1.97 per cent lower for the week, outperforming the local bourse which had a 0.18 per cent weekly increase.

Public Bank Bhd saw the largest net money outflow of RM11.04 million last week, but its stock price was 0.24 per cent higher for the week, outperforming FBM KLCI which was 0.18 per cent higher during the review week. — Bernama