KUALA LUMPUR – Foreign investors turned net sellers for the week ended November 26, the first week of outflow – after seven weeks of net inflow previously – that saw net outflow amounting to RM163.64 million, MIDF Research said.
The research house said Bursa Malaysia saw foreign investors as net sellers every day of last week with the largest foreign outflow recorded on Monday.
“As the market reopened last Monday, local institutions and retailers were net buyers to the tune of RM37.33 million and RM45.11 million, respectively, while foreign investors were net sellers amounted to RM82.44 million,” it noted.
On the other hand, it said retailers were net buyers every day of the week except on Friday with the largest net buying by the retailers recorded on Monday at RM45.11 million and the only net selling amounting to RM7.72 million.
For the week, retailers net bought RM109.50 million worth of equities in Bursa Malaysia, it said.
As for the local institutions, MIDF said it recorded cumulative weekly net selling of -RM54.16 million.
“Local institutions were net sellers for the majority of the week except on Monday and Friday. The largest net selling was on Thursday at RM16.30 million, while the largest net inflow was on Friday which amounted to RM50.49 million,” it said.
Meanwhile, MIDF said cumulatively, since the beginning of 2021, retailers had been the only net buyers in the local equity market to the tune of RM11.70 billion.
It said local institutions and foreign investors were net sellers amounting to RM9.85 billion and RM1.85 billion, respectively.
In terms of the participation the retail investors, local institutions and foreign investors recorded a weekly movement of -14.03%, -9.83% and -11.32%, respectively, in average daily trade value, it added.
Of the top stocks with money inflows for the week, CIMB registered the highest inflow of RM4.61 billion followed by Yinson (RM2.50 million) and Bursa Malaysia (RM1.63 million).
As for the money outflows, Inari saw the largest net money outflow of RM5.93 million last week, followed by Genting Malaysia, which recorded the second largest net money outflow of RM3.83 million, and British American Tobacco with an outflow of RM3.13 million during the week under review, MIDF noted.
On the market snapshot, it said equity markets worldwide were in the red last week on the back of worries over the new Covid-19 variant.
Bursa Malaysia’s barometer index, the FTSE Bursa Malaysia KLCI, dropped further by 0.87%.
It said the weaker performance of the local bourse was probably influenced by concerns over Malaysia’s inflation outlook as its headline consumer price index inflation accelerated to +2.9% year-on-year in October 2021, slightly above the market consensus.
On another note, MIDF said the Brent crude oil price saw a 7.82% decline in its weekly movement last week to close at US$72.72 per barrel on Friday.
“Oil prices plunged last week on the back of growing concerns over the new variant of Covid-19, which could derail the oil market’s recovery.
“To note, oil prices plunged US$10 per barrel on Friday, the largest one-day drop since April 2020,” it noted. – Bernama, November 29, 2021
