KUALA LUMPUR: Foreign investors upped the ante on their selling streak on Bursa Malaysia for the nineteenth straight week, with net outflows surging to RM1.27bil from RM562mil the previous week.
Foreign investors’ selling pressure persisted throughout the week, with Friday witnessing the heaviest outflow at RM646.2mil, according to MIDF Research.
“The only sectors that recorded net foreign inflows were construction (RM24.1mil), telecommunication & media (RM14.7mil) and REIT’s (RM6.7mil).
“Meanwhile, the top three sectors that recorded the highest net foreign outflows were financial services (-RM362.1mil), consumer products & services (-RM314.9mil) and utilities (-RM255.1mil),” the research house said in its weekly fund flow report.
In contrast, local institutions continued to provide strong support, marking their nineteenth straight week of net buying, with a significant RM817.4mil inflow into domestic equities, up from RM316.3mil the week before.
“Local retail investors continued their net buying streak for the third consecutive week, recording a net inflow of RM447.9mil, a significant increase from RM245.7mil last week,” MIDF said.
The average daily trading volume (ADTV) climbed across the board, with foreign investors surging 80.3% and local institutions rising 5.8%. In contrast, local retail investors saw a slight dip of 1.6%.
