KUALA LUMPUR: Foreign investors turned net sellers on Bursa Malaysia last week, with sales amounting to RM44.7 million, following two weeks of net buying.
MIDF Research noted in its report that year-to-date (YTD), foreign investors have been net sellers with total disposals of RM1.96 billion.
"The top three sectors with net foreign inflows for the week were utilities (RM86.7 million), technology (RM34.9 million) and property (RM30.7 million), while the top three sectors that recorded net foreign outflows were financial services (-RM75.7 million), consumer products & services (RM-41.3 million) and healthcare (RM-33.3 million)," it said.
Local institutions maintained their net selling trend for the third consecutive week, with net sales of RM98.5 million. The bulk of the outflow took place on Tuesday, coinciding with the release of Malaysia's producer price index (PPI) data.
"YTD, local institutions have been net buyers, accumulating RM2.59 billion." Local retailers put an end to their 11-week-long net selling streak as they bought RM143.1 million worth of domestic equities last week.
YTD, retailers have recorded net sales amounting to RM622.6 million.
In terms of participation, average daily trading volume (ADTV) rose among foreign investors by 3.9 per cent last week while local retailers and local institutions dropped 6.2 per cent and 9.2 per cent respectively.
