KUALA LUMPUR: Foreign funds were back in selling mode, disposing of RM337.02mil net of local equities last week, according to MIDF Research. “As market reopened on Monday last week, foreign investors sold RM852.52mil net of local equities, with retailers and local institutions as net buyers to the tune of RM493.3mil and RM359.23mil respectively,” MIDF said in its weekly fund flow report. The research house said foreigners were only net sellers on Monday and Wednesday, where combined outflow recorded was to the tune of RM950.99mil. Total inflow did not manage to reverse the selling momentum for last week. Largest foreign inflow was recorded on Friday at RM435.51mil at the smallest inflow was Tuesday at only RM41.78mil, MIDF noted. “For last week, retailers were active buyers except on Tuesday and Friday. The largest net inflow was on Monday and smallest on Wednesday, to the tune of RM493.3mil and RM86.69mil respectively,” the research house said. On the other hand, the market saw local institutions as net sellers except on Monday and Wednesday. Largest net selling was recorded on Friday at RM428.88mil and largest net buying was on Monday at RM359.23mil. “Overall, for the first week of 2021, retailers finished strong as net buyers at RM699.70mil while local institutions and foreign investors were net sellers at RM362.68mil and RM337.02mil. “In comparison to another three South East Asian markets that we tracked last week; Thailand and Philippines recorded the foreign net inflow while Malaysia experienced the only outflow,” MIDF said. In terms of participation, the retail investors recorded a weekly decrease of 19.42% in average daily trade value (ADTV) while the foreign investors and local institutions experienced declines in ADTV of 108.61% and 108.61% respectively.
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