KUALA LUMPUR: The net selling of Bursa Malaysia equities by foreign funds accelerated over the past week, in line with other Asian markets, as investors repositioned themselves into Chinese stocks.
According to MIDF research, there was an exodus of foreign funds from Asia last week with foreign investors net selling in six out of the eight markets it tracks due to a rotation of funds into China.
Foreign investors were net sellers of RM1.1bil of Bursa Malaysia equities during the week, with net sales on every day of the week.
In its weekly fund flow report, MIDF said the sectors with the highest net foreign outflows were financial services (RM553.3mil), utilities (RM159.5mil) and consumer products and services (RM132.3mil).
The Malaysian sectors that saw the most net inflows were plantations (RM27.5mil), property (RM20.9mil) and energy (RM10mil).
Meanwhile, local institutions were ner buyers for the fourth consecutive week at RM1.02bil.
Local retailers were net buyers of Malaysian equities for a second straight week with RM79.8mil.
"The average daily trading volume (ADTV) declined across all investor classes last week.
"Foreign investors recorded a decline of 14%, while local retail investors and local institutional
investors posted declines of 9.6% and 6.5% respectively," said MIDF.
