Foreign funds offloaded local equities at slower pace of RM113.5m last week, says MIDF - The Edge Malaysia

KUALA LUMPUR (Sept 4): Foreign investors continued to offload local equities on Bursa Malaysia for the second straight week, albeit at a slower pace of RM113.5 million last week compared to RM153.4 million the prior week.

In its weekly fund flow report on Monday (Sept 4), MIDF Research said foreign investors net bought RM12.1 million last Monday (Aug 28) and RM53.6 million last Tuesday before net selling RM139.4 million last Wednesday and RM39.8 million last Friday.

It said the top three sectors that saw net foreign inflows were property (RM142.5 million, construction (RM40.4 million) and technology (RM30 million).

Meanwhile, the bottom three sectors with net foreign outflows for the week were healthcare (RM144 million), industrial products and services (RM82.2 million), and consumer products and services (RM60.5 million).

Year-to-date (YTD), MIDF said foreigners have net sold RM2.68 billion.

“Local institutions on the other hand, maintained their net buying stance for the third consecutive week with a net buying amount of RM191.3 million last week.

“They only net sold RM17.1 million last Tuesday but were net buyers last Monday (RM40 million), Wednesday (RM103.5 million) and Friday (RM64.8 million),” it said.

MIDF said that YTD, local institutions have net bought RM3.23 billion of equities on Bursa Malaysia.

“Meanwhile, local retail investors continued net selling, which has not stretched into the eighth consecutive week.

“The net selling amount came up to RM77.8 million last week.

“They only net bought RM35.9 million last Wednesday but were net sellers last Monday (RM52.1 million), Tuesday (RM36.5 million) and Friday (RM25 million),” it said.

MIDF said that YTD, local retailers have net sold RM550.7 million.

It said that in terms of participation, there was a strong increase in average daily trading volume among foreign investors by 94.3%, retail investors by 38.4% and institutional investors by 44.9%.

Commenting on the international scene, MIDF said markets rallied on the expectations that the upcoming Federal Open Market Committee meeting on Sept 20 would see a pause in interest rates while the Chinese government rolled out stimulus measures to boost its economy.

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