KUALA LUMPUR, Oct 31 — The shortened trading week due to the Deepavali festivities saw foreigners reversing their net selling trend by net buying RM292.67 million of Malaysian equities.
MIDF Amanah Investment Bank Bhd said foreign investors have been net sellers for seven weeks before turning net buyers last week with the largest inflow seen on Thursday at RM124.90 million.
Meanwhile, Tuesday, Wednesday and Friday saw inflows of RM51.84 million, RM82.36 million and RM33.57 million, respectively.
“The top three sectors which saw net inflows by foreign investors last week were financial services at RM246.2 million, telecommunications and media at RM60.8 million and consumer products and services at RM37.4 million,” the investment bank said.
It said the three sectors with net outflows were plantation at RM35.40 million, construction at RM31.70 million and transportation and logistics at RM19.3 million.
On the contrary, it said local institutions turned net sellers after five weeks of net buying as they net sold every trading day of the week, resulting in net selling of RM195.89 million last week.
It said the heaviest outflow was on Thursday at RM99.15 million.
Meanwhile, local retailers remained net sellers at RM96.77 million as they net sold for three consecutive days before briefly turning net buyers on Friday.
“The net selling amount was RM36.66 million on Tuesday, RM62.76 million on Wednesday and RM25.75 million on Thursday before net buying RM28.40 million on Friday,” it said
The investment bank said international funds have been net buyers for 25 out of the 43 weeks of 2022 with a total net inflow of RM6.03 billion while local institutions were net sellers for 30 out of 43 weeks with a total net outflow of RM8.16 billion.
It said local retailers have been net buyers for 27 out of 43 weeks of 2022 with a total net buying of RM2.12 billion.
In terms of participation, it said there was a decline in the average daily trade value (ADTV) among foreign investors by 18.96 per cent while for local retailers and institutions, there were increases of 8.77 per cent and 4.81 per cent respectively. — Bernama
