KUALA LUMPUR, May 29 — The net selling by foreign investors on Bursa Malaysia stretches into its fifth consecutive week with net foreign outflows amounting to RM58.7 million last week, though this was about 3.6 times lower than RM211.0 million the week before, said MIDF Research today.
It said foreign investors net bought RM10 million on Monday and RM42.6 million on Friday but were net sellers from Tuesday to Thursday. Foreign investors have been net sellers for 15 out of 21 weeks this year, with a total net foreign outflow of RM2.45 billion.
The top three sectors that saw net foreign inflows were transportation and logistics (RM103.8 million), technology (RM58.6 million), and telecommunication and media (RM50.4 million), while the top three sectors that saw net foreign outflows were financial services (RM122.8 million), consumer products and services (RM68.3 million) and REITs (RM21.9 million).
Meanwhile, local institutional investors turned net sellers last week at RM32.4 million after four weeks of net buying. They only net bought on Tuesday at RM29.1 million and net sold for the rest of the week.
“Year to date, local institutional investors have been net buyers for 15 out of 21 weeks, with a total net buy of RM2.41 billion,” MIDF Research said in its weekly fund flow report today.
Local retailers turned net buyers at RM91.1 million last week after three weeks of net selling. Every trading day was a net buying day except Friday, with a net sell of RM4.5 million.
Year to date, local retailers have been net buyers for 10 out of 21 weeks with the total net buying amounting to RM39.9 million.
In terms of participation, there was an increase in average daily trading volume across the board - retailers (1.4 per cent), local institutions (12.6 per cent) and foreigners (18.2 per cent). — Bernama