Foreign investors maintained their selling momentum on Bursa Malaysia for the fourth consecutive week, where they net sold –RM313.8m worth of equities, which was –24.4% lower than the week before.
They were net sellers from Monday to Wednesday, totalling –RM757.5m and net bought RM443.7m on Thursday and Friday
following improved sentiments after the FOMC meeting with three rate cuts still in the pipeline. In Malaysia, Bank Negara
had also forecasted a growth of 4% to 5% in 2024, supported by resilient domestic demand and an improvement in external
demand.
The sectors with the highest net foreign inflows as at Thursday were Property (RM100.1m), Energy (RM21.6m) and Construction (RM14.1m). Meanwhile, the sectors that recorded the highest net foreign outflows were Financial Services (-RM272.3m), Consumer Products & Services (-RM123.8m) and Utilities (-RM93.2m).
Meanwhile, local institutions continued their trend of net buying for the fourth consecutive week as they net bought RM442.7m. As opposed to foreign investors, they net bought RM835.3m from Monday to Wednesday and net sold –RM392.6m on Thursday and Friday.
Local retailers retained their net selling stance at –RM128.8m last week, net selling every day. They have been net sellers for
12 consecutive trading days.
In terms of participation, the average daily trading volume ADTV) rose among retail and institutional investors by +2.6%
and +3.1% respectively while foreign investors saw a decline of –29.2%
