Foreign investors withdraw RM1.02bil from Malaysian equities market
KUALA LUMPUR: The exit of foreign investors from the Malaysian stock market accelerated past the RM1bil mark over the past week.
According to MIDF Research data, the net outflow of foreign funds rose to RM1.02bil, nearly 2.6 times more than the previous week's outflow of RM392.3mil.
The increase in net selling is in step with the regional trend, where foreign investors have been selling down their holdings amid growing anxieties over the trade and economic uncertainties.
On Bursa Malaysia, the sectors that saw the highest net foreign outflows were financial services (RM565.8mil), consumer products and services (RM172.2mil) and healthcare (RM129.9mil).
Conversely, the sectors with the highest net foreign inflows were property (RM47.9mil), construction (RM33.3mil) and energy (RM5.2mil).
As the offshore funds left the domestic market, local institutions stepped in for a second consecutive week, with net purchases of RM876.5mil.
Local retailers were also net buyers for a second week with a net inflow of RM142.6mil.
The average daily trading volume (ADTV) saw a broad-based incline last week. Local institutions and local retailers saw an increase of 0.03% and 1% respectively, while foreign investors saw a rise of 45.6%. Trading ideas: Alliance, LSH, LYC, 7-Eleven, RHB, Master Tec, Mah Sing, CIMB, Capital A, SKP, Yinson, Berjaya, BAT, Bintulu, Bank Islam
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