KUALA LUMPUR: Local institutions finally turned net buyers once again at RM244.9 million, after being net sellers for four consecutive weeks, MIDF Amanah Investment Bank Bhd (MIDF Research) said.
In its weekly Fund Flow Report on June 13, the research house said local institutions began the week as net sellers of RM12.2 million on June 7 before turning net buyers for the rest of the week.
“Their strongest net buying day was on Thursday (June 9) at RM129 million. They have been net sellers for 19 out of 23 weeks this year.
“To date, they have sold RM8.27 billion of equities,“ it said, adding that the local retailers were also net buyers of RM192 million.
The research firm also shared that the local retailers were net buyers every day of the week except on June 8 when they net sold RM3.4 million of equities with the strongest net buying day on June 10 at RM91.5 million.
It said local retailers had been net buyers for 14 out of 23 weeks of 2022, seeing that they had been net buyers at RM1.31 billion to date.
Meanwhile, foreign investors were net sellers every trading day of the week from June 7 to 10, continuing its net selling trend which started on June 2 to mark six consecutive days of net selling.
“The steepest net selling days by foreigners were Thursday (June 9) and Friday (June 10) at RM189.1 million and RM183.2 million, respectively,“ it said.
The three sectors that saw the highest net selling by foreigners were namely, finance at RM182.8 million, utilities at RM87.4 million and transport at RM76.4 million.
The only sectors which saw net buying by foreign investors were consumer, healthcare and property, amounting to RM23.6 million, RM7.2 million and RM4.8 million, respectively.
In terms of participation, only retail investors saw a weekly growth in the average daily trade value (ADTV) at 0.32%, while institutional investors and foreign investors saw a reduction of 20.67% and 56.81%, respectively.
To date, international funds have been net buyers for 17 out of the 23 weeks of 2022, with a total net inflow of RM6.96 billion. – Bernama