PETALING JAYA: Foreign investors maintained their selling momentum on Bursa Malaysia for the third consecutive week, where they net sold RM415.1 million worth of equities last week, moderating from RM1.51 billion in the week prior, said MIDF Research.
In its weekly fund flow, the research house said foreign investors net bought RM46.5 million on Tuesday but were net sellers for the rest of the week.
“The sectors with the highest net foreign inflows were property (RM81.1 million), construction (RM37.1 million), as well as transportation and logistics (RM17.7 million).
“Meanwhile, the sectors that recorded the highest net foreign outflows were financial services (RM186 million), plantation (RM115.7 million) and energy (RM59.6 million),” it said.
MIDF Research noted, however, that local institutions continued their trend of net buying for the third consecutive week as they net bought RM575.8 million.
As opposed to foreign investors, they were net sellers at RM24 million on Tuesday but were net buyers for the rest of the week.
“Local retailers shifted their stance to net selling at RM160.7 million, after briefly net buying for two weeks. They net sold every day last week and have been net sellers for seven consecutive trading days,” MIDF Research said.
In terms of participation, the average daily trading volume rose across all investor classes. Local retailers saw an increase of 13.9% while local institutions and foreign investors saw increases of 11.2% and 30.1%, respectively.
