Foreign investors continue net selling at RM415mil | FMT

Source: Free Malaysia Today

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, moderating from RM1.51 billion the week before.

In its weekly fund flow report, MIDF Research said foreign funds only net bought RM46.5 million last Tuesday but were net sellers for the rest of the week.

The research house said that the sectors with the highest net foreign inflows were property at RM81.1 million, construction at RM37.1 million, as well as transportation and logistics at RM17.7 million.

The sectors that recorded the highest net foreign outflows were financial services at RM186 million, plantation at RM115.7 million, and energy at RM59.6 million.

Meanwhile, local institutions continued their net buying of Malaysian equities on Bursa Malaysia for the third consecutive week at RM575.8 million last week.

MIDF said local institutions were net sellers at RM24 million on Tuesday but were net buyers for the entire week.

"However, 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 had been net sellers for seven consecutive trading days," it stated.

In terms of participation, the research house said that the average daily trading volume (ADTV) rose across all investor classes.

It said local retailers saw an increase of 13.9% while local institutions and foreign investors saw increases of 11.2% and 30.1%, respectively.