Foreign investors net sell on local bourse, highest in last three years

FOREIGN investors continued to net sell again on Bursa Malaysia, totalling RM1.16 billion last week, a massive amount not seen in the last three years, according to a local research house.

The last time the local stock exchange saw such huge net flow from foreign investors was for the same period ended March 20, 2020, when they net sold US$1.79 billion, according to MIDF Research’s fund flow report.

In its note released today (Oct 9), it said local institutions broke their three-week net selling streak with a net buy of RM1.05 billion, the highest net buying amount seen in three years since the week ended June 5, 2020 when they net bought RM1.18 billion.

Year-to-date, local institutions have net bought RM3.63 billion of equities, it said.

The report noted that it was a week filled with turbulence, led by the sell-off in the bond market, which saw the United States 10- year Treasury yield hitting its highest level since 2007.

The turbulent week saw the exodus of foreign funds from Asian markets extending into its fifth week as the net selling expanded by 45.3% to US$3.78b as foreign investors disposed of equities in all eight markets that it tracks, something last seen a year ago during the week ended Sept 23, 2022. – TMR