PETALING JAYA: Foreign investors maintained their selling momentum on Bursa Malaysia for the seventh consecutive week, offloading RM373.5 million net worth of equities last week, compared with RM336 million in the five days ended April 5, said MIDF Research.
In its weekly fund flow, the research house noted that this was about 11% wider than the net selling amount recorded in the previous week. Moreover, it was a shortened trading week of only three days due to the Hari Raya Aidilfitri holidays.
The research house said foreign investors net bought property (RM75.3 million), transportation and logistics (RM26.8 million) as well as construction (RM16.5 million).
Foreign investors’ main net selling sectors were financial services (RM285.9 million), utilities (RM85.4 million) as well as consumer products and services (RM52.7 million).
“Local institutions continued their trend of buying domestic equities for the seventh consecutive week, with purchases totalling RM430.7 million.
“Local retailers continued as net sellers for the fifth consecutive week, with net sales amounting to RM57.1 million. They ended their 22-day streak of net selling by making purchases of RM9.5 million on Tuesday but engaged in net selling throughout the rest of the trading days last week,” MIDF said.
In terms of participation, MIDF said the average daily trading volume saw a decrease among local retailers (3.1%) and local institutions (15.2%), while experiencing an increase among foreign investors (3.1%).
