Foreign buyers continued to net sell on Bursa Malaysia. Last week, they sold RM1.16 billion shares, the most they’ve sold in three years.
The most money left in the country by foreign investors in a single week was RM1.79 billion, which happened during the week ending March 20, 2020. In its fund flow report released today, MIDF Research said that foreign buyers bought RM20.6 million on Monday but sold it all through the rest of the week.
Tuesday, they sold RM39.3 million, Wednesday RM397.6 million, Thursday RM410.6 million, and Friday RM336.3 million. During the week, the top three industries that brought in net foreign exchange were utilities (RM86.2 million), construction (RM41.8 million), and real estate (RM21.9 million).
The top three industries with net foreign losses were healthcare (-RM159.8 million), consumer goods and services (-RM246.5 million), and financial services (-RM770.3 million). The research firm noticed that local institutions bought RM1 after selling it for three weeks.
Local retailers continued to net buy domestic stocks for the second week, worth RM114.4 million.
The study firm said that local stores bought more than they sold daily except last Thursday, when they sold RM22.6 million.
The average daily trading volume increased by 2.4% for foreign investors and 3.6% for local institutions last week.
However, local retailers’ average daily trading volume decreased by 3.7%.
A sell-off in the bond market caused a lot of chaos, according to MIDF. This week, the 10-year US Treasury yield hit its highest level since 2007.
Foreign buyers continued to net sell on Bursa Malaysia. Last week, they sold RM1.16 billion shares, the most they’ve sold in three years.