INTERNATIONAL investors remained equity net sellers for the sixth consecutive week on Bursa Malaysia as they pulled out RM480 million last week, versus RM337 million the previous week.

MIDF Research said in the shortened trading week, foreign investors were net sellers for every trading day with the heaviest outflow recorded on Thursday at RM154 million and Tuesday at RM140 million.

The outflows recorded on Wednesday and Friday were RM86.4 million and RM99.3 million respectively, it said in a note today.

“In contrast, local institutions were net buyers during every trading day last week, starting with RM81.2 million worth of equities on Tuesday with the sum moderating to RM44.2 million on Wednesday before increasing to RM131.5 million on Thursday and slightly lower at RM111.5 million on Friday.

“Cumulatively, local institutions net bought RM368 million last week,” it added.

MIDF Research noted that local retailers turned net buyers last week with a total weekly inflow of RM111.3 million, with the highest net buy on Tuesday at RM59.1 million.

“To date, international investors had been net buyers for 24 out of the 41 weeks of 2022, with a total net inflow of RM5.81 billion.

“Local institutions were net sellers for 29 out of 41 weeks, with a total net outflow of RM8.11 billion and local retailers were net buyers for 27 out of 41 weeks of 2022,” it said, adding that year-to-date, they had net bought RM2.3 billion.

In terms of participation, there was an increase in the average daily trade value (ADTV) across all investor classes at 0.34% for retail investors, 16.6% for institutional investors, and 16.3% for foreign investors, it noted.

Among Bursa’s top “inflow” stocks was Petronas Chemicals Group Bhd, with the highest net inflow last week of RM7.7 million, followed by Malayan Baking Bhd at RM2.4 million and Petronas Gas Bhd at RM2.2 million.

Public Bank Bhd was among the top decliners, having posted the largest outflow of RM4.4 million, followed by Telekom Malaysia Bhd at RM1.9 million and Nestle (RM1.5 million). – Bernama, October 17, 2022.