KUALA LUMPUR, Nov 1 — Foreign funds buying of local equities extended for the fourth straight week, but at a slower pace of RM1.44 million last week against RM587.61 million a week before, MIDF Research said.

The net flow was the smallest inflow during the streak, it said in its Strategy Report released today.

“As the market reopened last Monday, local institutions and retailers were net sellers and net buyers, respectively, amounting to -RM89.27 million and RM36.41 million, respectively.

“Meanwhile, foreign investors were net buyers to the tune of RM52.86 million,” MIDF Research said.

It said despite the weekly net inflow, foreign investors were net sellers for majority of the week.

The largest foreign inflow was recorded on Wednesday while the largest outflow on Thursday to the tune of RM57.92 million and -RM52.63 million, respectively.

The largest net buying by retailers was recorded on Thursday and smallest net buying was on Monday to the tune of RM78.57 million and RM36.41 million, respectively.

For the week, retailers net bought RM308.31 million worth of equities on Bursa Malaysia.

“Meanwhile, local institutions recorded cumulative weekly net selling amounted to -RM309.73 million.

“Local institutions were net sellers for everyday of the week with largest net selling on Wednesday amounted to -RM132.17 million, while the smallest net outflow was on Friday amounted to -RM10.37 million,” it noted.

Since the beginning of 2021, local institutions and foreign investors were net sellers to the tune of -RM8.53 billion and -RM2.18 billion, respectively, while retailers have been the only net buyers of equity market to the tune of RM10.71 billion.

In terms of participation, retail investors, local institutions and foreign investors recorded a weekly movement of -19 per cent, -21.96 per cent and 26.34 per cent, respectively, in average daily trade value (ADTV).

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) dropped -1.62 per cent last week, while regional markets saw mixed performance.

In Asia, foreign investors became net sellers last week after only one week prior to net buying.

“Based on the provisional aggregate data for the seven Asian exchanges that we track, net outflow from investors classified as ‘foreign’ was at a tune of about -US$2.59 billion worth of equities.

“This was primarily driven by outflows out of India and South Korea,” MIDF Research added. — Bernama