MIDF Research: Local retailers returned as net buyers on Bursa at RM135m last week

KUALA LUMPUR, May 30 — Local retailers returned as net buyers once again at RM135.1 million for the week ended May 27 following net selling by both local institutions and foreign investors, MIDF Amanah Investment Bank Bhd (MIDF Research) said.

In its weekly Fund Flow Report today, the research house said the previous occurrence was when local retailers were the sole net buyers for the week ended April 15, 2022.

It said foreign investors continued to be net sellers after being net buyers for a brief two-week period with net outflows of -RM83 million, while the local institutions remained net sellers for the third consecutive week at -RM52.1 million.

“To date, international funds have been net buyers for 16 out of the 21 weeks of 2022, with a total net inflow of RM6.92 billion. They were net sellers on Monday and Tuesday at RM199 million before turning net buyers from Wednesday to Friday, totalling RM116 million,” it said.

Meanwhile, it said the local institutions were net sellers the entire week except on Tuesday, where they net bought RM87.1 million and their heaviest outflow was on Friday at -RM77.6 million.

“They have been net sellers for 18 out of 21 weeks this year. To date, they have sold -RM8.16 billion of equities,” he said.

MIDF Research said the local retailers were net buyers every day of the week except on Wednesday, where they net sold only -RM260,000 of equities while their strongest net buying day was Tuesday at RM75.9 million.

“Year-to-date, local retailers have been net buyers at RM1.24 billion,” it said.

In terms of participation, it said all investor classes saw a decline for the week.

“Foreign investors saw a decrease in the average daily trade value (ADTV) by 19.7 per cent, while local retailers and local institutions posted declines of -6.5 per cent and -17.5 per cent, respectively, in ADTV,” it added.

MIDF Research revealed that Sime Darby Plantation Bhd registered the highest net money inflow of RM2.68 million last week while Dialog Group Bhd saw the largest net money outflow of -RM6.44 million. — Bernama