Foreign investors turned into net sellers on Bursa Malaysia, with sales amounting to -RM44.7m last week, following two weeks of net buying. Year-to-date, foreign investors have been net sellers, disposing a total of -RM1.96b.
The top three sectors with net foreign outflows for the week were Utilities (RM86.7m), Technology (RM34.9m) and Property (RM30.7m), while the top three sectors that recorded net foreign outflows were Financial Services (-RM75.7m), Consumer Products & Services (-RM41.3m) and Healthcare (-RM33.3m).
Local institutions continued their net selling trend for the third consecutive week, with net sales of -RM98.5m. The bulk of the outflow took place on Tuesday, coinciding with the release of Malaysia’s PPI data. The PPI showed improvement for the second consecutive month, with a slower contraction of -1.8% in Aug-23 (Jul-23: -2.3%). Year-to-date, local institutions have been net buyers, accumulating RM2.59b.
Local retailers put an end to their 11-week-long net selling streak, buying RM143.1m worth of domestic equities last week. Year-to-date, retailers have recorded net sales amounting to -RM622.6m.
In terms of participation, there was an increase in average daily trading volume (ADTV) among foreign investors by +3.9% last week while local retailers and local institutions saw a decrease of -6.2% and -9.2% respectively
