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Foreign funds extend buying activity in Bursa for a 2nd week with net inflow of RM202m

Publish date: Tue, 18 Jun 2024, 10:35 AM

FOREIGN investors continued to inject funds into Bursa Malaysia for the second consecutive week with net purchases totalling RM202.4 mil last week following a net inflow of RM535.0 mil a week prior.

They recorded net buying amounts of RM10.7 mil on Monday (June 10), RM135.1 mil on Tuesday (June 11) and RM197.4 mil on Thursday (June 13). However, they net sold -RM82.7 mil on Wednesday (June 12) and -RM58.1 mil on Friday (June 14).

The sectors which recorded the highest net foreign inflows last week were utilities (RM240.8 mil), industrial products and services (RM142.8 mil), and technology (RM100.8 mil) while sectors with the highest net foreign outflows were financial services (-RM330.9 mil), plantation (-RM126.2 mil) and telecommunication & media (-RM77.2 mil).

On the contrary, local institutions continued their net selling trend for the second consecutive week though at a reduced amount of 91% or -RM25.9 mil compared to the previous week.

Although there were three days with net buying, the two net selling days on Tuesday (June 11) and Thursday (June 13) totalling -RM129.1 mil were enough to offset the net bought amount.

Likewise, local retailers had also consistently sold off domestic equities for two straight weeks at -RM176.5 mil with net buying occurring only on Wednesday (June 12) and Friday (June 14) at RM29.1 mil and RM37.5 mil respectively.

Participation-wise, retail investors experienced an increase in average daily trading volume (ADTV) by +26.9% and local institutions (+14.1%) but foreign investors recorded a decline of -4.8%.

In comparison with another four Southeast Asian markets tracked by MIDF Research, only Indonesia posted a net foreign inflow at US$74.3 mil after 11 weeks of selling.

Elsewhere, Thailand experienced a fourth consecutive week of net foreign net outflows totalling -US$255.6 mil last week while Vietnam’s net selling streak continued for the 15th consecutive week at -US$217.1 mil.

In the Philippines, foreign investors sold equities worth -US$21.9 mil, marking four weeks in a row of net outflows.

The top three stocks with the highest net money inflow from foreign investors last week were Tenaga Nasional Bhd (RM337.3 mil), Press Metal Aluminium Holdings Bhd (RM82.2 mil) and Mah Sing Group Bhd (RM73.6 mil). - June 18, 2024

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