Foreign investors sell record RM1.51bil equities on Bursa Malaysia

KUALA LUMPUR: Foreign investors net sold a record high of RM1.51bil worth of equities for the week ended March 8.

“Towards the end of the week, there was a moderation in the amount of net selling, likely influenced by the decision of Bank Negara to maintain its overnight policy rate (OPR) at 3.00% as anticipated,” MIDF said in its weekly fund flow report.

The research house said the sectors with the highest net foreign inflows were utilities (RM274.0mil), transportation (RM61.4mil) and telecommunications & media (RM31.2mil).

On the other hand, sectors with the highest net foreign outflows were financial services (-RM515.9mil), industrial products & services (-RM107.6mil), and plantation (-RM76.1mil).

Meanwhile, local institutions continued their trend of net buying for two consecutive weeks, with an inflow of RM1.42bil.

Local retailers also engaged in net buying activities for the second straight weeks, with a total of RM94.8mil.

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

Local retailers saw a decrease of -23.2% while local institutions and foreign investors saw declines of -22.4% and -41.9% respectively.