Local Institutions On Shopping Spree Last Week With RM1.19 Bln Net Equity Purchases -- MIDF

KUALA LUMPUR, Aug 12 (Bernama) -- Local institutions went on a shopping spree last week, net buying RM1.19 billion worth of equities on Bursa Malaysia, according to MIDF Research.

The MIDF Amanah Investment Bank unit said local institutions net bought every day during the trading week ending Aug 9, with the largest net buying amount seen on Monday at RM545.8 million.

“This was the largest net buy amount in a single day since 2018, when they net bought RM846.3 million on Feb 6,” it said in its weekly fund flow report.

MIDF Research said the turbulence on Wall Street caused ripple effects in Malaysia, which saw foreign investors disposing of RM768.4 million net.

“They net sold equities on Bursa Malaysia every day last week, with the largest net outflows on Monday and Thursday at RM336.1 million and RM226.7 million, respectively,” it said.

There were only three sectors that were net bought by foreign investors last week, namely telecommunication and media (RM10.0 million), healthcare (RM8.6 million) and plantation (RM7.1 million).

“The top three sectors that were net sold by foreign investors were consumer products and services (-RM151.8 million), property (-RM149.5 million) and technology (-RM120.2 million),” it said. 

Meanwhile, the local retailers net sold RM424.6 million last week, with Monday saw the heaviest net selling to the tune of RM209.7 million, MIDF Research said.

The average daily trading volume (ADTV) showed an increase across all investor classes.

The foreign investors’ ADTV saw the highest surge of 47.4 per cent, followed by local retailers at 47.3 per cent and local institutional investors at 37.7 per cent, it added.

-- BERNAMA