It was a shortened trading week on Bursa Malaysia in conjunction with the Yang di-Pertuan Agong’s Birthday
celebration on Monday. Foreign investors continued to net sell Malaysian equities for the eighth consecutive week at -RM443.8m last week. This frequency of weekly net selling was last seen in May-21, which may have been exacerbated by the weak Apr-23 IPI numbers as mentioned above.
Similar to the week before, foreigners net sold every day last week and they have been net selling for nine consecutive trading days. They net sold -RM99.1m on Tuesday, -RM98.2m on Wednesday, -RM159.9m on Thursday, and -RM86.7m on Friday.
Top three sectors that saw net foreign inflows last week were Transportation & Logistics (RM37.0m), Construction (RM12.2m), and Technology (RM0.3m). Sectors with the most outflows were Financial Services (-RM102.5m), Consumer Products & Services (-RM78.2m), and Industrials (-RM65.3m). Year-to-date, foreigners have net sold Malaysian equities for 17 out of 23 weeks, totalling -RM3.40b.
Local institutional investors remained net buyers of Malaysian stocks with a total of RM333.7m. They net bought every day, the bulk of it on Thursday and Friday at RM151.0m and RM100.0m respectively. Year-to-date, they have been net buyers for 17 of 23 weeks with a total of RM3.12b.
Meanwhile, local retailers continued their net buying activities for the third consecutive week at RM110.2m. They only net sold -RM13.3m on Friday but were net buyers for the other trading days. Year-to-date, retailers have been net buyers for 12 out of 23 weeks with a total of RM283.6m.
In terms of participation, there was a decline in average daily trading volume (ADTV) across the board among retail investors (-14.9%), local institutions (-19.9%) and foreign investors (-55.2%).
