KUALA LUMPUR The outflow of foreign funds from Bursa Malaysia continued for a 10th week, the longest losing streak recorded on the local market this year.
In the week ended Dec 27, foreign investors net sold RM231.9mil shares on Bursa Malaysia, with a net outflow recorded on every day of the Christmas-shortened trading week.
This was in contrast to the wider trend in Asia, where foreign investors were net purchases in most markets. According to MIDF Research, only India and Malaysia registered net foreign outflow among the eight markets in tracked in the region.
For Bursa Malaysia, MIDF reported the sectors with the highest net foreign outflows were utilities (RM119.5mil), construction (RM88.5mil) and healthcare (RM68.1mil).
Meanwhile, the sectors that recorded the most net inflows were property (RM36.6mil), industrial products and services (RM31.2mil) and financial services (RM29.6mil).
Local institutions, meanwhile, supported the local bourse with net purchases of RM416.9mil. Local retailers turned net sellers with RM185mil of local equities in net sales.
The average daily trading volume (ADTV) saw declines across the board last week. Foreign investors saw a dip of 60.2% while local retailers and local institutions saw declines of 30.6% and 38.9% respectively.
