KUALA LUMPUR: Foreign investors turned net selling mode last week after five-week of net buying streak, offloading RM276.4mil worth of equities on Bursa Malaysia, according to MIDF Research.
Foreign investors acquired RM246.3mil worth of equities on Bursa Malaysia for the week ended Dec 1.
MIDF noted that the peak net selling occurred on Thursday at RM95.4mil followed by Monday at RM92.5mil, while the remaining days of the week saw outflows of less than RM40.0mil.
The top three sectors with net foreign inflows last week were utilities with RM118.5mil, property with RM19.1mil and construction with RM9.4mil.
On the other hand, the top three sectors with net foreign outflows were consumer products & services (-RM191.3mil), transport & logistics (-RM62.3mil) and industrial products & services (-RM48.4mil).
“In contrast, local institutions switched to net buyers at RM194.0mil after five consecutive weeks of net selling,” MIDF said in its weekly fund flow report.
Every trading day recorded net buying except for Tuesday when there was an outflow of -RM21.4mil. On that day, local institutions were observed selling shares of CIMB Group (-RM25.5mil), YTL Power (-RM16.7mil), and Public Bank (-RM15.3mil).
Local retailers sustained their net buying of domestic equities for the second consecutive week, totalling RM82.4mil, representing a significantly moderated rate compared to the RM210.9mil net buying recorded in the previous week.
In terms of participation, there were declines in average daily trading volume across the board - local retailers (-15.3%), local institutions (-16.4%), and foreign investors (-49.9%).