Foreign investors extend Bursa selling streak with RM562mil net outflow

Foreign investors extend Bursa selling streak with RM562mil net outflow

Selling pressure persisted throughout the week, with Monday witnessing the heaviest outflow at RM189.6 million, says MIDF.

kl skyline
MIDF said the top three sectors with the highest net foreign outflows were healthcare, utilities and financial services. (AP pic)
KUALA LUMPUR:
Foreign investors extended their selling streak on Bursa Malaysia for the 18th consecutive week, recording a significantly larger net outflow of RM562 million compared to RM203.2 million in the previous week, said MIDF Amanah Investment Bank.

In its fund flow report for the week ended Feb 21, MIDF said foreign investors’ selling pressure persisted throughout the week, with Monday witnessing the heaviest outflow at RM189.6 million.

The top three sectors that recorded net foreign inflows were construction (RM73.4 million), consumer products & services (RM47.5 million) and telecommunication & media (RM26.2 million).

Meanwhile, the top three sectors that recorded the highest net foreign outflows were healthcare (-RM444.3 million), utilities (-RM116 million), and financial services (-RM110.4 million).

In contrast, local institutions provided steadfast support to the market, marking their 18th consecutive week of net buying with RM316.3 million in domestic equities, more than quadrupling last week’s RM77.9 million inflow.

MIDF said local retail investors remain net buyers for two consecutive weeks on Bursa, with a net inflow of RM245.7 million in equities.

The average daily trading volume (ADTV) saw inclines across the board last week.

“Foreign investors saw an increase of +9.7%, while local institutions and local retailers also saw an increase of +4.7% and +11.3%, respectively,” said MIDF.

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