Foreign investors maintained their net buying spree on Malaysian equities for the second consecutive week, marking a net foreign inflow of RM246.2m. They have been accumulating stocks listed on Bursa Malaysia ahead of the revised Budget 2023 announcement on Friday that came with a +4.2% increase in allocations to RM388b.
They net bought every day last week, with the strongest net inflows on Monday and Tuesday at RM61.5m and RM77.6m respectively. Foreign investors also net bought RM48.2m on Wednesday, RM41.0 on Thursday and RM18.0 on Friday. This was the strongest net buy that was seen since the week ended 11th November, 2022.
The top three sectors which saw net inflows by foreign investors last week were Financial Services at RM111.4m, Energy at RM60.9m and Healthcare at RM54.8m. The bottom three sectors with net outflows were Plantation at -RM38.3m, Consumer Products and Services at -RM28.1m and Property at -RM11.6m. Yearto-date, foreign investors have net sold RM347.1m.
Local institutions maintained their net selling stance for the second consecutive week, recording an outflow of -RM379.1m last week. They were net sellers every day of the week, with the steepest net sell on Wednesday at -RM143.0m. They also net sold -RM77.2m on Monday, -RM74.2m on Tuesday, -RM72.8m on Thursday and -RM11.9m on Friday.
Local retailers returned as net buyers again last week at RM132.9m, after briefly turning net sellers at -RM55.1m in the week prior. They net bought RM15.7m on Monday, RM94.8m on Wednesday and RM31.8m on Thursday. Net selling days were on Tuesday and Friday at -RM3.4m and -RM6.1m respectively.
In terms of participation, there was an increase in average daily trading volume (ADTV) among foreign investors by +10.0% while retail investors and local institutions saw declines of -0.7% and -4.0% respectively
