KUALA LUMPUR: The pace of foreign fund selling on Bursa Malaysia slowed in the previous week to RM120.6mil net of equities, about half the amount in the week prior.
According to MIDF Research, this was in line with the net selling seen in Asian equities, which also slowed in its fifth straight week of selling.
"Based on the provisional aggregate data for the seven Asian exchanges that we track, investors classified as 'foreign' sold USD271mil net last week, substantially in comparison with a net selling of USD3.01bil in the previous week," said the research house.
MIDF noted that foreign investors were net sellers on everyday of the past week except for Tuesday and Friday.
The heaviest day of selling was on Monday with RM79.4mil of equities net sold.
Following the sell-off, the net inflow of international funds to the domestic market so far this year narrowed to RM5.95bil
Local institutions meanwhile remained net buyers for a second consecutive week with RM29.9mil of net purchases.
The same went for local retailers, which recorded net buying of RM90.69mil during the week.
MIDF reported that on a sectoral basis, the industrial products and services, technology and transportation sectors saw the highest net outflow last week with RM44.6mil, RM42.5mil and RM32.6mil respectively.
The top three sectors with highest net inflow were financial services (RM20.6mil), healthcare (RM16.4mil) and plantations (RM8.8mil).
In terms of participation, foreign investors, institutional investors, and retailers saw declines in average daily trade value of 18.2%, 21% and 14.2% respectively.
