KUALA LUMPUR: The selling of Malaysian stocks by offshore funds slowed signifantly in the past week to RM330.5mil net from a whopping RM1.97bil in the previous week, said MIDF Research in its weekly fund flow report.
There was foreign selling on every day of the week except for Friday, which registered a marked drop in trading volume given certain key foreign markets were closed for Good Friday.
On Friday, Bursa Malaysia registered a net inflow of RM39.9mil.
MIDF reported that the three sectors with the highest net foreign outflows were financial services (RM96.6mil), technology (RM87mil) and construction (RM80.8mil).
The sectors with the most net inflows were telco and media (RM119.5mil), consumer products and services (RM34.4mil) and property (RM2.45mil).
Local institutions served to buffer the domestic for the 26th straigth week with net purchases of RM356.2mil in equities.
Local retailers, meanwhile, turned net sellers after two consecutive weeks of net buying, with a net outflow of RM25.7mil.
The average daily trading volume (ADTV) saw a broad-based decrease. Foreign investors, local institutions and local retailers saw an decrease of 48.7%, 56.7% and 47.2% respectively.
