In its weekly fund flow report, MIDF Research said this was due to net selling last Wednesday and Thursday.

“However, net buying days outpaced net selling by three to two,” it said in its fund flow report for the week ended Jan 19, 2024.

On a day by day, they net sold (–RM39 million) on Wednesday and (–RM190 million) on Thursday while they net bought RM15.8 million on Monday, RM93.7 million on Tuesday, and RM53.3 million on Friday.

MIDF said the top three sectors with the highest net foreign inflows were utilities (RM135.1 million), construction (RM114.6 million), and property (RM51.2 million).

“The top three sectors with the highest net foreign outflows were financial services (-RM129.2 million), consumer products and services (-RM64.8 million), and industrial products and services (-RM61.8 million),” it said.

Local institutions continued to net buy for the second consecutive week, at an amount of RM214.7 million, more than double the amount recorded the week prior.

“They net bought RM36.7 million on Monday, RM38.4 million on Wednesday and RM222.1 million on Thursday and net sold (–RM67.3 million) on Tuesday and (–RM15.2 million) on Friday,” it said.

MIDF said local retailers net sold domestic equities for the third consecutive week amounting to (-RM148.4 million).

“They net sold every day of the week except on Wednesday when they net bought RM700,000,” it said.

In terms of participation, MIDF said there was an increase in average daily trading volume among foreign investors by (+1.9%) while local retail and local institutional investors saw declines of (-4.6%) and (-4.0%), respectively.