Foreign funds dispose of RM383.76mil net of Bursa equities

KUALA LUMPUR: Foreign selling continued on Bursa Malaysia for a third consecutive week with a net outflow of RM383.76mil even as the performance of the local market was seen lagging behind that of its regional peers.

While a risk-on mood was seen returning to global markets following the release of US inflation data, the FBM KLCI was seen dropping 0.86%, the worst-performing in a list of major equities indices.

According to MIDF Research data, foreign investors have sold a cumulative net amount of RM1.1bil worth of equities on Bursa over the last three weeks.

Year-to-date, they have been net sellers of RM2.78bil worth of local equities.

Over the past five trading sessions, foreign investors were net sellers everyday with the largest selling amount on Monday to the tune of RM191.82mil.

In contrast, retailers were net buyers everyday of the week with the largest net purchase of RM72.13mil recorded on Friday.

Over the course of the week, retailers bought RM222.6mil net of equities on Bursa.

Local institutions were also net buyers over the week to the tune of RM161.17mil. The largest net buying was on Monday with RM133.9mil net bought while the only outflow came on Thursday with RM14.21mil net sold.

Retailers remain the only net buyers of Bursa stock, with RM12.32bil net of purchases since the start of the year. Local institutions have been the largest net sellers for 2021 so far, with RM9.53bil net of Bursa equities sold.

“In terms of participation the retail investors, local institutions and the foreign investors recorded a weekly movement of -48.45%, -48.93% and -69.45% respectively in average daily trade value (ADTV),” said MIDF.

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