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Market Daily Report: Bursa Malaysia Ends Higher On Continued Bargain-hunting

KUALA LUMPUR, June 5 (Bernama) -- Bursa Malaysia closed higher, with the benchmark index rising 0.60 per cent as bargain-hunting persisted following the recent sell-off, despite weaker performances across regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 10.17 points to 1,693.43 from Thursday's close of 1,683.26. The benchmark index opened 3.19 points higher at 1,686.45 and traded between 1,684.36 and 1,698.53 during the trading session. However, broader market sentiment remained negative, with losers outnumbering gainers 666 to 477. A total of 574 counters were unchanged, 958 untraded and 12 suspended. Turnover fell to 3.41 billion units worth RM3.04 billion from 3.47 billion units worth RM3.58 billion on Thursday.
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Foreign Funds End Three-Week Buying Spree, Sell RM424m in Local Equities

 

Foreign investors halted their three-week net buying streak on Bursa Malaysia, selling RM423.5 million worth of domestic equities last week. This follows an inflow of RM740.8 million the previous week.

Key Insights:

  1. Net Outflows:

    • Foreign funds saw a net outflow of RM423.5 million last week.
    • The only day with a net foreign inflow was Tuesday (July 23), totaling RM151.1 million.
    • The largest outflow was on Thursday, amounting to RM371.0 million.

  2. Sectoral Movements:

    • Net Bought Sectors: Property (RM43.9 million), Utilities (RM42.2 million), and Construction (RM6.5 million).
    • Net Sold Sectors: Technology (RM107.7 million), Consumer Products and Services (RM87.7 million), and Industrial Products and Services (RM80.8 million).

  3. Local Institutions and Retailers:

    • Local institutions net purchased RM256.4 million, breaking a two-week selling streak.
    • Local retailers ended a three-week selling period, buying RM167.0 million last week.
    • Average daily trading volume (ADTV) decreased among local retailers (27.7%), local institutions (29.4%), and foreign investors (35.2%).

  4. Global Indices Performance:

    • Only five out of 20 major indices tracked by MIDF recorded gains last week.
    • Top Gainers: FTSE 100 (1.59%), DAX 40 (1.35%), and Sensex (0.90%).
    • Top Decliners: Nikkei 225 (5.98%), CSI 300 (3.67%), and TAIEX (3.28%).

The shift in foreign investment trends underscores the volatile nature of the market, influenced by both local and global economic factors. The net selling by foreign investors, alongside local institutional and retail support, highlights the dynamic interplay within the equity market.

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