Net overseas sales of Malaysian stocks worth RM338.7 million last week

PETALING JAYA: MIDF Research reported RM338.7 million in net sales of Malaysian stocks last week as overseas funds exited the domestic market after two straight weeks of net buying.

Overseas investors sold Malaysian equities every trading day throughout last week except Tuesday, which saw an inflow of RM9 million. Year-to-date, foreign investors have sold Malaysian stocks with a net value of RM685.7 million.

The highest net outflow came on Monday at RM178.6 million, while Wednesday and Thursday were the second-highest and third-highest net selling days of the week at RM84.2 million and RM73.8 million, respectively.

The sectors with the most net inflows from abroad were energy at RM33.5 million, construction at RM24.8 million and real estate investment trusts (REITs) at RM2.5 million. On the other hand, financials (RM121 million), industrials (RM80 million) and healthcare (RM74.3 million) were sectors that saw net outflows from abroad.

Local institutions were net buyers last week, with net inflows totaling RM296.0 million. Only Tuesday saw a net outflow of RM78.3 million while the rest of the week saw inflows. The strongest net inflows were recorded on Friday at RM168.9 million, followed by Monday at RM132.1 million. Year-to-date, local institutions have bought RM736.8 million net.

Similarly, local retailers were RM42.7 million in net buyers last week. Only on Wednesday there were net outflows of RM55.1 million. Year-to-date local retailers are net sellers at RM51.1 million.

In terms of participation, there was an increase in average daily trading volume among local institutions (+0.3%) and foreign investors (+42.0%) versus local retailers (-6.3%).