Friday 29 Mar 2024
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KUALA LUMPUR (Nov 21): Foreign funds sold Malaysian equities worth RM272 million last week, a reversal from the RM425.62 million inflow the prior week.

In its weekly fund flow report on Monday (Nov 21), the MIDF Research team said it was a shortened trading week following the public holiday granted last Friday to give way for the 15th general election on Saturday.

The research house said the net selling started last Tuesday, which saw the highest net outflow for the week at RM185.5 million, and the trend continued with net ouflows of RM79.9 million last Wednesday and RM62.2 million last Thursday.

“In contrast, local institutions were net buyers last week, with a total net inflow of RM152.5 million, with the bulk of it recorded last Tuesday at RM149.9 million and last Wednesday at RM39.2 million.

“Meanwhile, last Monday saw local institutions net selling RM34.3 million worth of equities, followed by RM2.3 million last Thursday,” it said.

MIDF said that on the other hand, local retailers turned into net buyers last week, with a total weekly net inflow of RM119.6 million.

It said this was a positive reversal in comparison to the RM173.6 million net sold in the week prior.

The research firm said retailers started off the week by net selling RM21.3 million worth of equities.

“They then turned into net buyers for the rest of the week, with net inflows of RM35.6 million last Tuesday, RM40.7 million last Wednesday, and RM64.6 million last Thursday — the highest for the week.

“International funds were net buyers for 26 out of 46 weeks of 2022, with a total net inflow of RM5.91 billion.

“Local institutions were net sellers for 31 out of 46 weeks, with a total net outflow of RM7.99 billion,” it said.

MIDF said local retailers were net buyers for 29 out of 46 weeks of 2022.

It said that year-to-date, they are net buyers at RM2.08 billion.

It said in terms of participation, there was a deterioration in terms of average daily trade value by retailer investors (-8.0%), institutional investors (-3.3%), and foreign investors (-0.1%).

Commenting on global markets, MIDF said the Dow Jones closed at 33,745.69 (-0.01%), and the S&P 500 ended at 3,965.34 (-0.69%), while the Nasdaq closed at 11,146.06 (-1.57%).

“We saw a mixed performance among the 16 major indices that we track.

“Among the top gainers were Hong Kong’s Hang Seng (+3.85%), Taiwan’s TWSE (+3.55%) and the Philippines’ PCOMP (+2.40%). South Korea’s Kospi (-1.56%) was the biggest decliner, followed by Japan’s Nikkei (-1.29%), and Malaysia’s FBM KLCI (-1.29%),” it said.

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