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KUALA LUMPUR: Foreign funds changed course by becoming net buyers to the tune of RM70.91k compared to the previous week’s net sales, according to MIDF Research.
“This was the first net entry in September, in which the first week of the month saw foreign investors as net sellers at RM589.38 thousand.
“Combined, during the first two weeks of September, foreign investors were net sellers to the tune of RM518.47 thousand,” MIDF said in its weekly cash flow report.
The research house noted that retailers are net buyers of RM 456.61 million worth of shares last week, while local institutions have a net worth of RM 527.51 million during the same period.
MIDF said last week was the 10th consecutive week for local retailers as net buyers in Bursa Malaysia to the tune of RM5.03bil net, compared to local institutions as net sellers at RM707.40 thousand and foreign investors at -RM4.02bil. since the beginning of July.
MIDF said that overseas sales were made only on Monday and Tuesday with net outflows of RM72.45k and RM11.52k respectively, before the buying momentum began on Wednesday.
The highest net inflow was on Thursday at RM94.81 thousand and the lowest was on Friday at RM1.33 thousand.
“So far in 2020, net sales by foreign investors have amounted to 20.87 billion shares in Bursa. Local players, institutions are net buyers at RM10.88bil and retailers at RM9.61bil ”, said MIDF.
“Compared to the other three Southeast Asian markets that we tracked last week; The Philippines had the lowest net foreign outflow, while Indonesia experienced the highest outflow compared to the others, “he added.
In terms of participation, retail investors registered a weekly increase of 21.28% in the average daily commercial value (ADTV) while the foreign investor experienced the decrease of ADTV of 14%.
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