[ad_1]
KUALA LUMPUR: Foreign investors were net sellers on Bursa Malaysia over the holiday-shortened trading week ended April 20, 2023, as investors stayed cautious ahead of first-quarter corporate earnings figures and economic data.
According to MIDF Research, offshore funds net sold RM151.11mil of local equities.
“Year-to-date, foreigners have net sold Malaysian equities for 10 out of 16 weeks, totalling RM1.93bil,” said the research firm.
MIDF said the outflow last week was in line with the wider regional sentiment.
“After four consecutive weeks of net buying Asian equities, foreign investors turned net sellers last week.
“Based on the provisional aggregate data for the eight exchanges that we track, investors classified as ‘foreigners’ net sold US$1.18bil worth of Asian equities. Only Indonesia, South Korea and the Philippines recorded net inflows for the week,” it said.
On Bursa, the top sectors that saw the most foreign outflows were financial services (RM139.5mil), technology (RM44.8mil) and utilities (RM15.7mil).
The highest net foreign inflows, meanwhile, were seen in telecommunications and media (RM44.4mil), healthcare (RM18.4mil) and consumer products and services (RM9.7mil).
Local institutions in Malaysia were net sellers with RM3.7mil of equities net sold while local retailers were net buyers over the week with RM158.3mil in net purchases.
“In terms of participation, there was an increase in average daily trading volume (ADTV) among local retailers by +6.5%, while among local institutions and foreign investors, there were declines of 4.4% and 7.6% respectively,” said MIDF.
[ad_2]
Source link