KUALA LUMPUR: Foreign investors extended their selling streak to a seventh consecutive week, with net outflows amounting to RM554.7mil, according to MBSB Research.
In its weekly fund flow report, MBSB said foreign institutions were net sellers on every trading day last week, with outflows recorded on Tuesday at RM176.8mil, Friday at RM171.5mil, Thursday at RM99.5mil, Wednesday at RM77.4mil and Monday at RM29.5mil.
“The top three sectors that recorded net foreign inflows were industrial products & services at RM69.8mil, technology at RM19.9mil, and utilities at RM19.4mil,” the research house said.
Meanwhile, the largest net outflows were seen in financial services at RM257.7mil, followed by consumer products & services at RM98.9mil and construction at RM93.5mil.
Local institutions extended to an eleven-week consecutive net buying streak, recording net inflows of RM191.6mil.
MBSB noted that retailers returned to net buying after the previous week of net selling, recording net inflows of RM363.2mil.
The average daily trading volume (ADTV) declined across the board, with retail investors down 21.2%, local institutions down 28.4%, and foreign institutions down 33.7%.
