Foreign buying of M'sian equities rises to RM382.8m as inflow extends to fourth week, says MIDF

Foreign buying of M’sian equities rises to RM382.8m as inflow extends to fourth week, says MIDF

KUALA LUMPUR (Nov 27): Foreign buying of Malaysian equities continued for the fourth consecutive week, and rose to RM382.8 million last week, from RM172.4 million the prior week.

In its weekly fund flow report on Monday, MIDF Research said foreign funds net bought every day last week, with the highest inflow on Tuesday at RM232.6 million.

“They also net bought RM6.5 million on Monday, RM36.6 million on Wednesday, RM74.0 million on Thursday, and RM33.1 million on Friday.

“The top three sectors with the highest net foreign inflows were utilities (RM86.4 million), healthcare (RM85.2 million), and technology (RM82.0 million), while the top three sectors with the highest net foreign outflows were consumer products and services (RM38.9 million), energy (RM21.2 million), and telecommunications and media (RM20.1 million),” it said.

MIDF said local institutions continued to net sell for the fourth consecutive week, disposing of RM355.0 million of equities.

It said they net bought RM11.0 million on Monday, but net sold from Tuesday to Friday.

“Local retailers continued their net selling streak for the seventh consecutive week, with net sales amounting to RM27.8 million.

“They were net buyers of RM24.6 million only on Wednesday, but were net sellers for the rest of the week,” it said.

MIDF said that in terms of participation, there were increases in the average daily trading volume among local retailers by 4.9% and local institutions by 9.8%, but a decline among foreign investors by 5.4%.

Commenting on international markets, MIDF said out of the 20 indices it monitors, 13 registered gains for the week.

“The top three performers were the Dow Jones Industrial Average (1.27%), South Korea’s Kospi (1.08%), and the S&P 500 (1.00%).

“The top decliners were Thailand’s SET (1.30%), Singapore’s Straits Times (0.96%), and the Shenzhen CSI 300 (0.84%).

“The FBM KLCI was also among the decliners, losing 0.46% to close at 1,453.92 points for the week,” it said.