KUALA LUMPUR: Foreign investors became net sellers on Bursa Malaysia, selling RM93.1 million worth of stocks after four weeks of net inflows, said MIDF Research.
According to its fund flow report for the week ending January 12, the firm noted that each trading day witnessed net selling, except for Monday, during which foreign investors purchased stocks worth RM29.8 million.
"Inflows were observed in stocks like Public Bank (RM42.2 million), Sime Darby (RM29.4 million), and YTL Power (RM28.6 million)," it added.
MIDF Research reported that the three sectors experiencing the most significant net foreign inflows were utilities (RM181.4 million), construction (RM67.0 million), and energy (RM51.8 million) for the week.
"Meanwhile, the sectors with the highest net foreign outflows were consumer products & services (RM241.2 million), transportation & logistics (RM103.7 million), and industrial products & services (RM99.0 million)," it said.
MIDF Research reported that local institutions persisted as net sellers for the third consecutive week, totaling RM141.6 million, with the technology sector experiencing the highest net outflows from this investor group, reaching RM122.6 million.
Local retailers continued to divest domestic equities, albeit at a considerably slower rate of RM10.0 million, compared with the preceding week's RM383.3 million.
There were increases in the average daily trading volume for local retailers (2.6 per cent), local institutions (3.4 per cent), and foreign investors (10.6 per cent).
