Foreign investors turn net sellers of local equities valued at RM503.1mil

KUALA LUMPUR: The net inflow of foreign dollars into Bursa Malaysia halted over the past week as offshore investors disposed of RM503.1mil net of equities.

MIDF Research said in its weekly fund flow report that the net selling was the strongest recorded in 19 weeks.

The sectors that registered the highest net foreign inflows were utilities (RM274mi), transport (RM61.4mil) and telecommunications and media (RM31.2mil) while sectors with the highest net foreign outflows were financial services (RM515.9mil), industrial products and services (RM107.6mil), and plantation (RM76.1mil).

Local institutions, meanwhile, ended five weeks of net selling to turn net buyers of RM443.5mil of local equities.

Local retailers followed suit, snapping three weeks of net selling, to net purchase RM59.6mil of domestic stock.

"In terms of participation, there were increases in average daily trading volume (ADTV) across all investor classes.

"Local retailers saw an increase of 14% while local institutions and foreign investors saw increases of 13.1% and 109.8% respectively," said MIDF.