FOREIGN INVESTORS SOLD RM204.6 MLN OF EQUITIES LAST WEEK

KUALA LUMPUR, Jan 3 (Bernama) -- Foreign investors turned net sellers in the last trading week of 2022, offloading shares worth RM204.6 million against a net buy of RM51.2 million in the week prior.

MIDF Research said it was a shortened trading week due to the Christmas holiday, with the foreign investors starting off the week on a positive note by net buying RM10.1 million on Tuesday, as well as RM99.2 million on Wednesday.

“However, the amount net bought was inadequate to overturn the profit-taking that took place on Thursday at a rate of RM9.8 million and on Friday at RM304.1 million.

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“The top three sectors that saw net foreign inflows were healthcare at RM16.5 million, technology at RM12.3 million, and transportation & logistics at RM7.2 million,” it said in a weekly note.

The top three sectors that saw net foreign outflows were plantation at RM64.7 million, industrial products and services at RM57.1 million, and financial services at RM46.0 million.

MIDF Research said local institutions net bought RM290.4 million last week, but during the week ended Dec 23, 2022, they net sold RM52.1 million worth of equities.

“Tuesday and Wednesday were net selling days of RM44.6 million and RM149.0 million respectively.

“Their investing stance took a positive turn on Thursday as they net bought RM41.6 million with the heaviest net buying seen on Friday at RM442.4 million,” it added.

Local retailers also turned net sellers, selling RM85.8 million worth of shares, but they had been net buying for three consecutive weeks prior to that.

“Local retailers net bought RM34.4 million on Tuesday and RM49.9 million on Wednesday.

“They started taking profit for the rest of the week at RM31.8 million on Thursday and RM138.3 million on Friday,” the research firm revealed.

In terms of participation, the average daily trading volume for local retailers (10.0 per cent), local institutions (32.6 per cent), and foreign investors (18.8 per cent) recorded growth last week.

MIDF Research said at the end of 2022, foreign investors had been net buyers for 27 out of 52 weeks of 2022, with a total net inflow of RM4.38 billion.

In contrast, local institutions were net sellers for 33 weeks out of 52 weeks of 2022, with a total net outflow of RM6.42 billion.

Local retailers had also been net buyers for 33 weeks out of 52 weeks of 2022, with a total net inflow of RM2.04 billion.

-- BERNAMA