Foreign outflow from Bursa down to RM68m last week, says MIDF

KUALA LUMPUR (Oct 25): Foreign selling of Malaysian equities narrowed to RM68.22 million last week, compared with the previous week’s RM479.7 million.

It was the lowest outflow in seven weeks.

MIDF Research said foreign investors were net sellers on Bursa Malaysia every trading day last week, except Tuesday and Friday, with the heaviest outflow recorded last Thursday at RM83.4 million.

The heaviest inflow from foreign investors was recorded last Tuesday at RM102.6 million.

“Last Monday saw the continuation of foreign investors’ net selling streak at RM53.5 million, but this was broken last Tuesday before net selling resumed.

“However, the week ended with net buying by foreign investors last Friday at RM20.1 million,” the research house said in a note on Tuesday (Oct 25).

MIDF Research noted that the top three sectors that saw the highest net inflows by foreigners last week were financial services (RM81.1 million), energy (RM46.8 million), and telecommunications (RM27.7 million).

The highest net outflows were from healthcare at RM95.5 million, industrial products and services at RM81 million, and construction at RM45.3 million.

Local institutions were net buyers every trading day last week, except last Tuesday with a net outflow of RM105.7 million, while the heaviest net inflow occurred last Thursday at RM120.5 million.

Cumulatively, local institutions net bought RM147.5 million worth of equities last week.

“To date, international investors were net buyers for 24 out of 42 weeks of 2022, with a total net inflow of RM5.7 billion.

“Local institutions were net sellers for 29 out of 42 weeks, with a total net outflow of RM8 billion, while local retailers were net buyers for 27 out of 42 weeks of 2022,” it said, adding that year-to-date, they had net bought RM2.2 billion.

In terms of participation, there was a surge in the average daily trade value for foreign investors at 17.8%, and retail investors at 5.2%. In contrast, the figure for institutional investors declined by 2.5%.

Among Bursa’s top “inflow” stocks were RHB Bank Bhd, with the highest net inflow last week of RM5.17 million, followed by Kuala Lumpur Kepong Bhd (KLK) at RM2.79 million, and AMMB Holdings Bhd (AmBank) at RM2.47 million.

Alliance Bank Malaysia Bhd was among the top decliners, having posted the largest outflow of RM3.7 million, followed by PPB Group Bhd at RM1.86 million, and CIMB Group Holdings Bhd at RM1 million.