KUALA LUMPUR: Foreign funds selling of local equity extended to fourth straight week, but at a slower pace of RM173.93mil last week from RM323.98mil in the prior week, said MIDF Research.
As the market reopened last Monday, foreign investors sold RM96.60mil net of local equities, with retailers and local institutions as net buyers to the tune of RM59.10mil and RM37.50mil, respectively.
MIDF noted that Foreign investors were net sellers every day last week except on Thursday.
The largest foreign outflow was recorded on Monday with the smallest outflow on Tuesday to the tune of RM96.60mil and RM7.02mil respectively. The net buying on Thursday amounted to RM69.60mil.
As for the retailers, MIDF said they were net sellers on the majority of days last week with net selling occurring on Tuesday, Wednesday, and Thursday.
The largest net selling by the retailers was recorded on Wednesday at RM29.49mil and largest net buying was on Monday to the tune of RM59.10mil.
Cumulatively, for the week, retailers net bought RM35.72mil worth of equities in Bursa Malaysia.
Meanwhile, local institutions recorded cumulative weekly inflow to the tune of RM138.22mil.
Local institutions were net buyers every day last week except on Thursday with the largest net buying on Wednesday amounting to RM103.49mil.
“Since the beginning of 2021, cumulatively, retailers have been the only net buyers of our equity market to the tune of RM8.55bil.
“Local institutions and foreign investors were net sellers to the tune of RM3.74bil and RM4.81bil, respectively,” MIDF said.
In terms of participation the retail investors, local institutions, and the foreign investors recorded a weekly movement of -13.18%, -15.11%, and +0.68% respectively in average daily trade value.
For the week ended July 16, Maybank registered the highest net money inflow of RM2.44mil followed by MMC with a net money inflow of RM2.37mil and Genting Malaysia with an inflow of RM1.96mil.
On the other hand, Hong Leong Bank saw the largest net money outflow of RM5mil last week.