LOCAL INSTITUTIONS' NET BUYING ON BURSA SOARED TO RM1.06 BLN LAST WEEK

KUALA LUMPUR, Dec 9 (Bernama) -- Local institutions continued to be Bursa Malaysia's primary supporters, with net buying skyrocketing nearly fivefold to RM1.06 billion last week from RM207.7 million recorded in the week before.

In its fund flow report for the week ending Dec 6, MIDF Amanah Investment Bank Bhd (MIDF) noted no outflows were recorded in the entire week from this investor class last week.

It said Monday and Tuesday saw the highest inflows at RM245.6 million and RM284.1 million, respectively. 

Local institutions’ interest focused on Tenaga Nasional, Maybank, CIMB, AMMB, and RHB Bank, which were the top stocks to record weekly net inflows last week.

Meanwhile, foreign investors and local retailers remained as net sellers.

Foreign investors continued to sell on Bursa Malaysia for the seventh consecutive week, with outflows totalling RM761.4 million, leading to the second-highest single-week outflow in the last five weeks.

“Every trading day experienced a net foreign outflow, the largest outflow occurring on Monday at RM248.8 million, followed by Tuesday at RM218.6 million, Friday at RM143.9 million, Thursday at RM121.6 million and Wednesday at RM28.5 million,” it said.

The top three sectors that saw net selling activities by foreign investors were financial services (RM594.1 million), utilities (RM475.9 million), and transportation and logistics (RM53.8 million).

The top three sectors that saw net buying activities by foreign investors were healthcare (RM238 million), plantation (RM93.1 million), and industrial products and services (RM72.8 million).

Meanwhile, local retailers saw net outflows amounted to RM299.9 million last week, almost 30 times more than the previous week.

"Every day saw an outflow from this investor group, except for Monday, which recorded an inflow of RM3.2 million," it said, adding that the heaviest outflow was registered on Wednesday, amounting to RM125.7 million.

Overall, Bursa Malaysia’s average daily trading volume (ADTV) declined across all investor categories except local retail investors, where it saw an increase of 8.9 per cent.

Foreign and local institutional investors recorded a decrease of 25.7 per cent and 6.6 per cent, respectively. 

MIDF said for the first time in 10 weeks, foreigners net bought Asian equities across the eight markets it monitors, resulting in a total inflow of US$5.16 billion (US$1=RM4.41).

All countries, except India, Taiwan, and Indonesia, experienced a net outflow.

-- BERNAMA