KUALA LUMPUR: Foreign investors were net sellers of Bursa Malaysia equity on the last trading week of 2022, with RM204.6mil of equities net sold.
According to MIDF Research, there was net buying following the Christmas break with foreign buying of RM10.1mil on Tuesday and RM99.2mil on Wednesday, but the market saw heavy profit-taking over the two closing days of the year.
"The amount net bought was inadequate to overturn the profit taking that took place on Thursday at a rate of -RM9.8m and on Friday at -RM304.1m," it said in its weekly fund flow report.
The top three sectors that saw net foreign inflows were Healthcare at RM16.5mil, technology at RM12.3mil and transport and logistics at RM7.2mil.
Meanwhile, the top three sectors that saw net foreign outflows were Plantation at RM64.7mil, industrial products and services at RM57.1mil and financial services at RM46mil.
"In terms of participation, the average daily trading volume (ADTV) for local retailers (+10.0%), local institutions (+32.6%) and foreign investors (+18.8%) recorded growth last week," said MIDF.
The reseach firm reported that over the course of the year, offshore funds recorded a net inflow of RM4.38bil of Malaysian stocks with a total of 27 weeks of net buying.
This was more than double the net purchases of RM2.04bil made by local retailers.
Local institutions however ended the year on a net negative note with RM6.42bil of net outflow recorded.
