KUALA LUMPUR: Foreign investors extended their selling streak on Bursa Malaysia for a third straight week, recording net outflows of RM387.4mil, down from RM1.02bil the previous week.
MIDF Research said foreign investors were net sellers on all trading days, with outflows ranging from RM5.4mil to RM162.83mil. The largest outflow was recorded on Wednesday at RM162.8mil, followed by Tuesday at RM121.2mil.
“The top three sectors that recorded the highest net foreign inflows
were telco & media (RM16.4mil), technology (RM16.2mil) and property (RM8.0mil).
“The top three sectors that recorded the highest net foreign outflows were financial services (-RM193.1mil), healthcare
(-RM130.9mil) and plantation (-RM40.4mil),” MIDF said in its weekly fund flow report.
Meanwhile, local institutions maintained their buying momentum, extending their three-week accumulation streak with net inflows totalling RM444.6mil.
In contrast, local retailers ended their two-week buying streak, registering a net outflow of RM57.3mil.
The average daily trading volume (ADTV) saw a broad-based decline last week. Local institutions and local retailers saw a decrease of 8.1% and 15.8%, respectively, while foreign investors saw a plunge of 29.1%.
