PETALING JAYA: Foreign investors continued to net sell on Bursa Malaysia for two consecutive weeks, with total net selling of RM396.9 million last week, compared with RM613.0 million in the week prior, said MIDF Research.
According to its fund flow report, the research house said that last week, foreign net selling activities occurred on a daily basis. It added that Wednesday recorded the highest daily foreign outflow of RM150.4 million, with foreign investors selling stocks like Hong Leong Bank Bhd (RM54.0 million), Kuala Lumpur Kepong Bhd (RM33.6 million) and Gamuda Bhd (RM22.4 million).
Year-to-date (YTD), foreign investors have net sold RM4.13 billion on Bursa Malaysia.
“The top three sectors with the highest net foreign inflows were utilities (RM107.7 million), technology (RM18.5 million) and property (RM16.2 million), while the top three sectors with the highest net foreign outflows were financial services (RM181.9 million), consumer products and services (RM101.4 million) as well as construction (RM65.0 million),” MIDF Research said in a statement.
In addition, it said that local institutions have maintained their trend of purchasing domestic equities for the fourth consecutive week, with a net buying amount of RM493.1 million.
“They were favouring sectors such as financial services (RM236.0 million), consumer products and services (RM76.4 million) as well as construction (RM50.3 million). YTD, local institutions have net bought RM4.88 billion of equities,” it added.
MIDF Research said local retailers persisted as net sellers of domestic equities for the third consecutive week, totalling RM96.2 million in net sales. YTD, retailers have accumulated net sales amounting to RM756.8 million.
In participation, there was a decrease in average daily trading volume among retail (3.6%) and foreign (26.1%) investors, but an increase among institutional investors (2.7%).
