KUALA LUMPUR, Nov 18 — Local institutions were net buyers on Bursa Malaysia for the fourth consecutive week, with net purchases totalling RM207.7 million last week, while foreign investors extended their outflows from Asia.
In its fund flow report for the week ending on November 15, MIDF Amanah Investment Bank Bhd (MIDF) said local institutions briefly net sold RM1.4 million on Tuesday but were net buyers on the other trading days.
The most sought-after stocks included MISC, Telekom Malaysia, IJM Corp, United Plantations, and Public Bank.
Retail investors were also net buyers, recording net purchases of RM52.1 million last week, with interest focused on Maybank, Genting Malaysia, Genting and Petronas Chemicals, among others.
Meanwhile, foreign investors remained net sellers for the fourth week, although their selling moderated to RM259.8 million from RM392 million in the prior week.
“The heaviest net outflow was RM104.4 million on Monday, followed by RM67.6 million on Thursday,” MIDF said, adding that daily outflows were also recorded on Tuesday (RM17.2 million), Wednesday (RM46.6 million), and Friday (RM24.1 million).
The plantation, healthcare and property sectors recorded the highest net foreign inflows at RM72.9 million, RM64.0 million, and RM29.0 million, respectively.
Conversely, the largest net foreign outflows were seen in the transportation and logistics (RM120.2 million), utilities (RM98.5 million) and consumer products and services (RM79.2 million) sectors.
Across Asia, foreign investors continued their net selling for the seventh consecutive week, with total outflows reaching a six-week high of US$5.85 billion. (RM26.1 billion).
Taiwan and South Korea led the outflows as investors grappled with the potential impact of United States President-elect Donald Trump’s proposed tariffs and policies.
— Bernama
