KUALA LUMPUR, March 7 — Foreign investors and local retailers were net buyers for week ended March 4, which saw total net inflows of RM1.31 billion while net inflows from foreign investors amounted to RM1.08 billion, MIDF Research said.
In its equity strategy report today, the investment bank said international funds have been net buyers on Bursa Malaysia for the fourth consecutive week for seven out of the first nine weeks of 2022.
“We noted that last week, the net buying by foreign investors was the highest for the year, surpassing the previous high of RM955.9 million for the week ended Feb 18,” it added.
MIDF Research said as the market reopened on Monday last week, local retailers and foreign investors bought RM35 million and RM490.9 million net of local equities, respectively, while local institutions kicked off the week as net sellers at -RM525.9 million.
It noted that local institutions have been net sellers since Feb 4 with the largest net outflow last week was on Monday and the smallest on Wednesday at -RM525.9 million and -RM154 million, respectively.
As for retail investors, they have been net buyers every day of the week, the largest on Wednesday at RM74.19 million and the smallest at RM35 million on Monday.
MIDF Research said overall, for the ninth week of 2022, foreign investors finished strong as net buyers to the tune of RM1.08 billion, followed by retailers as the second strongest at RM230.4 million while the local institutions were the only strong net sellers at -RM1.31 billion.
“The three sectors that saw the highest net inflow from foreign investors were industrial products and services (RM518.6 million), financial services (RM289.7 million), and plantation (RM229.8 million),” it added.
Last week, Press Metal registered the highest net money inflow of RM4.13 million. Its share price was +6.96 per cent higher for the week, outperforming the local bourse which had a 0.77 per cent weekly increase.
Meanwhile, Petronas Chemicals saw the largest net money outflow of -RM15.52 million last week. Its stock price was 8.07 per cent higher for the week, outperforming the FBM KLCI which was 0.77 per cent higher during the week under review. — Bernama
