PETALING JAYA: Foreign selling of Malaysian equities on Bursa Malaysia continued into a fifth week with net outflow amounting to RM58.7 million, though it was about 3.6 times lower than RM211 million recorded in the week prior, according to MIDF Research.
In its weekly fund flow, the research house said that foreign investors net bought RM10.0 million on Monday and RM42.6 million on Friday but were net sellers from Tuesday to Thursday. Foreign investors have been net sellers for 15 out of 21 weeks this year, with a total net foreign outflow of RM2.45 billion.
MIDF said that the top three sectors that saw net foreign inflows were transportation and logistics (RM103.8 million), technology (RM58.6 million), and telecommunication and media (RM50.4 million), while the top three sectors that saw net foreign outflows were financial services (RM122.8 million), consumer products and services (RM68.3 million) and REITs (RM21.9 million).
“Local institutional investors turned net sellers last week at RM32.4 million after four weeks of net buying. They only net bought on Tuesday at RM29.1 million and net sold for the rest of the week. Year-to-date, they have been net buyers for 15 out of 21 weeks, with a total net buy of RM2.41 billion,” it said in a statement.
In addition, the research house said that the local retailers turned net buyers at RM91.1 million last week after three weeks of net selling. Every trading day was a net buying day except on Friday, with a net sell of RM4.5 million. Year-to-date, local retailers have been net buyers for 10 out of 21 weeks and the total net buying year-to-date amounted to RM39.9 million.
In terms of participation, there was an increase in average daily trading volume across the board, with retailers (1.4%), local institutions (12.6%) and foreigners (18.2%).
