Foreign investors' net selling hits 18-week high of RM1.1b on Bursa
KUALA LUMPUR (Oct 7): Foreign investors increased their equity sell-off on Bursa Malaysia last week, reaching a net selling high of RM1.1 billion, the highest in 18 weeks, according to MIDF Research in a note on Monday.
"They net sold every day last week, and have been net selling for 10 consecutive trading days," said the house.
"The most significant net selling occurred last Friday, with a total of RM321.8 million."
Despite the overall trend, certain sectors experienced net foreign inflows, said MIDF.
These sectors included plantation, which saw an inflow of RM27.5 million, property with RM20.9 million, and energy with RM10.0 million.
In contrast, significant net selling occurred in the financial services sector with RM553.3 million, utilities with RM159.5 million, and consumer products and services with RM132.3 million.
On the other hand, local institutions have been net buyers for four weeks straight, purchasing equities worth RM1.02 billion.
Similar to foreign investors, they have maintained a net buying streak for 10 consecutive trading days.
Local retailers also contributed positively to the market, net buying for the second consecutive week with a total of RM79.8 million.
They recorded net selling of RM31.8 million last Tuesday, but reverted to net buying for the remainder of the week.
However, the average daily trading volume (ADTV) declined across all investor classes last week. Foreign investors saw a 14.0% decrease in ADTV, while local retail investors experienced a decline of 9.6% and local institutional investors a drop of 6.5%.
https://www.theedgemarkets.com/node/729180
"They net sold every day last week, and have been net selling for 10 consecutive trading days," said the house.
"The most significant net selling occurred last Friday, with a total of RM321.8 million."
Despite the overall trend, certain sectors experienced net foreign inflows, said MIDF.
These sectors included plantation, which saw an inflow of RM27.5 million, property with RM20.9 million, and energy with RM10.0 million.
In contrast, significant net selling occurred in the financial services sector with RM553.3 million, utilities with RM159.5 million, and consumer products and services with RM132.3 million.
On the other hand, local institutions have been net buyers for four weeks straight, purchasing equities worth RM1.02 billion.
Similar to foreign investors, they have maintained a net buying streak for 10 consecutive trading days.
Local retailers also contributed positively to the market, net buying for the second consecutive week with a total of RM79.8 million.
They recorded net selling of RM31.8 million last Tuesday, but reverted to net buying for the remainder of the week.
However, the average daily trading volume (ADTV) declined across all investor classes last week. Foreign investors saw a 14.0% decrease in ADTV, while local retail investors experienced a decline of 9.6% and local institutional investors a drop of 6.5%.
https://www.theedgemarkets.com/node/729180
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