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Exit by foreign funds on Bursa extends to 7th straight weeks; RM370m net outflow posted in 3 trading days

Publish date: Mon, 15 Apr 2024, 12:22 PM

DESPITE being a shortened trading week of only three days due to the Hari Raya Aidilfitri break, net selling trend by foreign investors on Bursa Malaysia has extended into its seventh consecutive week, amounting to -RM373.5 mil.

This was about -11% wider than the net selling amount of -RM336.0 mil in the previous week, according to MIDF Research.

“Last week, foreign investors net bought property (RM75.3 mil), transportation & logistics (RM26.8 mil) and construction (RM16.5 mil),” MIDF Research pointed out in its weekly fund flow report.

“Sectors that saw net selling were financial services (-RM285.9 mil), utilities (-RM85.4 mil) and consumer products & services (-RM52.7 mil).’

On the contrary, local institutions continued their trend of buying domestic equities for the seventh consecutive week with purchases totalling RM430.7 mil.

However, local retailers continued as net sellers for the fifth consecutive week with net sales amounting to -RM57.1 mil.

“They ended their 22-day streak of net selling by making purchases of RM9.5 mil on Tuesday (April 9) but engaged in net selling throughout the rest of last week’s trading days,” noted MIDF Research.

In terms of participation, the average daily trading volume (ADTV) saw a decrease among local retailers (-3.1%) and local institutions (-15.2%) but posted an increase among foreign investors (+3.1%).

In comparison with another four Southeast Asian markets tracked by MIDF Research, only Thailand experienced a second consecutive week of net foreign net inflow totalling US$217.1 mil.

Elsewhere, Vietnam recorded its sixth consecutive week of foreign funds exiting its equity market at -USD46.8 mil while in a shortened trading week in the Philippines, foreigners net sold equities for the third consecutive week at -US$30.5 mil.

Meanwhile, the Indonesian equity market remained closed throughout last week in observance of Eid al-Fitr. It is scheduled to re-open for trading tomorrow (April 16).

The top three stocks with the highest net money inflow from foreign investors last week were Malaysian Resources Corp Bhd (RM20.9 mil), S P Setia Bhd (RM19.1 mil) and Malaysia Airports Holdings Bhd (RM314.1 mil). - April 15, 2024

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