KUCHING: The previous week saw foreign investors becoming net sellers every day of the week, analysts observed in the latest fund flow report.
According to the research arm of MIDF Amanah Investment Bank Bhd (MIDF Research), cumulatively, for the first week of September, foreign investor was net seller to the tune of RM589.38 million.
“This was bigger than last week of August at RM485 million. Cumulatively, the month of August saw net outflow of foreign investors at RM1.49 billion,” MIDF Research said.
“Meanwhile, retailers are net buyers of RM660.08 million worth of equities last week, with local institutions at -RM71.52 million net during the same period.
“As market reopened on Tuesday last week, foreign investors sold RM379.9 million net of local equities, with retailers and local institutions as net buyers at RM199.95 million and RM179.95 million respectively.”
MIDF Research highlighted that foreign selling resumed the selling momentum until end of week.
The research arm further highlighted that the largest net outflow of the week was on Tuesday with net outflow of RM379.9 million and the smallest outflow on Wednesday at RM25.97 million.
“So far in 2020, foreign investors net selling have amounted to RM20.94 billion worth of equities on Bursa.
“Local players, institutions are net buyers at RM10.21 billion and retailers at RM9.77 billion.”
In comparison to another three South East Asian markets that MIDF Research tracked last week; Philippines recorded the least foreign net outflow while Thailand experienced the biggest outflow compare to the others.
“In terms of participation, the retail investors recorded a weekly decrease of 22.67 per cent in average daily trade value (ADTV) while the foreign investor experienced the decrease of ADTV of 27.97 per cent.”
Overall, Petronas Gas Bhd registered the highest net money inflow of RM11.63 million last week, followed by Public Bank Bhd with the second highest net money inflow of RM7.82 million.
Tenaga Nasional Bhd saw the third highest net money inflow of RM6.47 million.
On outflows, Top Glove Corporation Bhd saw the largest net money outflow of 22.65 million last week.
Meanwhile, Inari Amertron Bhd recorded the second largest net money outflow RM5 million during the week under review while IJM Corporation Bhd registered the third largest net money outflow of RM4.69 million.