FOREIGN investors ended their three-week net buying streak on Bursa Malaysia by disposing of -RM423.5 mil worth of domestic equities last week.

Tuesday (July 23) was the only day with a net foreign inflow totalling RM151.1 mil while the rest of the week only saw foreign funds exiting the market. The largest outflow occurred on Thursday (July 25) at -RM371.0 mil.

“Foreign investors only net bought three sectors last week, namely property (RM43.9 mil), utilities (RM42.2 mil) and construction (RM6.5 mil),” observed MIDF Research in its weekly fund flow report,

“The top three sectors that were net sold were technology (-RM107.7 mil), consumer products & services (-RM87.7 mil) and industrial products & services (-RM80.8 mil).”

On the contrary, both local institutions and local retailers supported the local bourse last week by breaking their previous net selling streaks.

Local institutions made a net purchase of RM256.4 mil after two weeks of net selling while local retailers ended their three-week of net disposal by amassing RM167.0 mil of equities last week.

The average daily trading volume (ADTV) showed a decrease among local retailers (-27.7%), local institutions (-29.4%) and foreign investors (-35.2%).

In comparison with another four Southeast Asian markets tracked by MIDF Research, both the Philippines and Indonesia posted a fifth constitutive week of net foreign inflow at US$22.8 mil and US$19.6 mil respectively last week.

Meanwhile, foreign investors ended their 20-week net selling streak of Vietnamese equities last week by mopping up US$16.6 mil worth of stocks while Thailand posted its second straight week of net foreign inflows at US$2.4 mil.

The top three stocks with the highest net money inflow from foreign investors last week were CIMB Group Holdings Bhd (RM107.8 mil), Tenaga Nasional Bhd (RM78.9 mil) and Sime Darby Property Bhd (RM30.6 mil) - July 29, 2024

https://focusmalaysia.my/foreign-funds-offload-rm420m-net-of-bursa-stocks-after-3-straight-weeks-of-buying-spree/