In its fund flow report for the week ending Nov 29, MIDF Amanah Investment Bank Bhd (MIDF) said foreign investors net sold every day last week and had been net selling for seven straight trading days.

The heaviest net outflow was RM104.4 million on Monday, followed by RM67.6 million on Thursday, while Tuesday, Wednesday and Friday saw net outflows of RM17.2 million, RM46.6 million and RM24.1 million, respectively.

The top three sectors that recorded net foreign inflows were plantation (RM72.9 million), healthcare (RM64 million), and property (RM29 million), while the top three sectors that registered net foreign outflows were transportation and logistics (RM120.2 million), utilities (RM98.5 million), and consumer products and services (RM79.2 million).

Meanwhile, local institutions were net buyers of Malaysian equities for the fourth consecutive week, with net buying of RM207.7 million last week.

However, this was lower than the RM250.6 million recorded in the week prior.

MIDF noted that local institutions net sold RM1.4 million on Tuesday but were net buyers for the rest of the week.

Local retail investors were net buyers last week at RM52.1 million and only net sold RM26.8 million on Wednesday but were net buyers for the remainder of the week.

MIDF said the average daily trading volume (ADTV) showed declines across all investor classes.

Foreign investors registered declines of 8.8% while local institutional investors and local retail investors saw declines of 3.1% and 3.3%, respectively.