Foreign investors end three-week net buying streak, offloading RM424mil

Foreign investors end three-week net buying streak, offloading RM424mil

Tuesday was the only day with a net foreign inflow, totalling RM151.1 million, says MIDF Research.

kl skyline
The sectors that experienced the highest net foreign inflows were property, utilities and construction. (Bernama pic)
PETALING JAYA:
Foreign investors ended their three weeks of net buying on Bursa Malaysia, selling RM423.5 million worth of domestic equities last week, from an inflow of RM740.8 million the previous week.

In its weekly fund flow report, MIDF Research said Tuesday was the only day with a net foreign inflow, totalling RM151.1 million, while the rest of the week saw foreign funds exiting the market.

“The largest outflow occurred on Thursday, totalling RM371 million,” it said.

The sectors with the highest net foreign inflows last week were property (RM43.9 million), utilities (RM42.2 million) and construction (RM6.5 million).

The research house identified the sectors with the highest net foreign outflows as technology (RM107.7 million), consumer products and services (RM87.7 million), and industrial products and services (RM80.8 million).

Conversely, it said local institutions bolstered Bursa last week with a net purchase of RM256.4 million, following two weeks of selling.

MIDF said the local retailers also ended their three-week net selling streak by buying RM167 million last week.

“In terms of participation, there were declines in average daily trading volume among all investor classes last week.

“Foreign investors recorded the largest decline of 35.2%, while local institutions and local retailers saw declines of 29.4% and 27.7%, respectively,” MIDF added.

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