MIDF Research found that foreign buying of Malaysian equity extended last week but dropped to RM131.8 million from RM267.7 million the prior week.
In its weekly fund flow report on Monday (Feb 5), the research house said it was a shortened trading week in conjunction with the Federal Territory Day on Thursday.
“They net sold RM96.2 million on Monday and RM24.6 million on Tuesday but were net buyers on Wednesday at RM166.0 million and RM86.6 million on Friday.
“The top three sectors with the highest net foreign inflows were Telecommunications and Media (RM85.5 million), Industrial Products and Services (RM37.5 million) and Plantation (RM23.2 million) while the top three sectors with the highest net foreign outflows were Utilities (RM84.8 million), Property (RM49.2 million) and REITs (RM16.0 million),” it said.
MIDF said local institutions maintained their stance as net sellers for the second straight week at RM141.3 million, with the bulk of the net selling occurring on Wednesday (RM175.1 million) and Friday (RM116.8 million). Local institutions net bought RM97.3 million on Monday and RM53.3 million on Tuesday.
“Local retailers recorded their first weekly net buy this year at RM9.5 million after net selling for four consecutive weeks. They net bought RM9.1 million on Wednesday and RM30.2 million on Friday, after net selling RM1.1 million on Monday and RM28.8 million on Tuesday.
MIDF said that in terms of participation, there was an increase in average daily trading volume (ADTV) among foreign investors by 4.5%, while local retailers saw a decline of 17.5% and local institutions 15.5%.
MIDF said during the week, 15 out of the 20 global indices it monitored showed positive advances.
“Leading the gains were South Korea’s Kospi (5.52%), India’s Sensex (1.96%), and Australia’s ASX 200 (1.91%).
“Meanwhile, notable decliners included China’s Shenzhen CSI 300 (4.63%), Hong Kong’s Hang Seng (2.62%), and France’s CAC 40 (0.55%),” it said.
