KUALA LUMPUR: Bursa Malaysia saw a net outflow of foreign funds over the past week, in line with the trend over the broader Asia region.
According to MIDF Research's weekly fund flow report, offshore funds divested a net value of RM44.7mil in local equities in the week ended Sept 29, 2023.
The sectors that led net foreign outflows were utilities (RM86.7mil), technology (RM34.9mil) and property (RM30.7mil).
Meanwhile, the sectors that saw the most net outflows were financial services (RM75.7mil), consumer products and services (RM41.3mil) and healthcare (RM33.3mil).
Local insitutions remained net sellers of Malaysian equities for a third straight week with net sales of RM98.5mil.
"The bulk of the outflow took place on Tuesday, coinciding with the release of Malaysia’s PPI data.
"The PPI showed improvement for the second consecutive month, with a slower contraction of -1.8% in Aug-23 (Jul-23: -2.3%)," said MIDF.
Local retailers ended an 11-week net selling streak to record net buying of RM143.1mil worth of domestic equities.
In terms of participation, there was an increase in average daily trading volume (ADTV) among foreign investors by 3.9% last week while local retailers and local institutions saw a decrease of 6.2% and 9.2% respectively.