KUALA LUMPUR: Foreign investors resumed net selling on Bursa Malaysia last week at RM1.24 billion after buying for the past five weeks.
MIDF Research said prior to that, investors had been net sellers for eight consecutive weeks.
"The sectors with the highest net foreign inflows last week were technology (RM108.5 millon), transportation and logistics (RM64.8 million) and property (RM22.4 million).
"The sectors with the highest net foreign outflows were financial services (RM800.0 million), utilities (RM250.7 million), and plantation (RM157.4 million)," it added.
MIDF Research said local institutions ended their net selling streak of four weeks by purchasing a total of RM1.03 billion.
The firm noted that they bought every trading day, with the highest amount on Friday at RM341.9 million.
Local retailers, meanwhile, concluded their 11-week streak of net selling by purchasing RM205.9 million worth of domestic equities last week.
In terms of participation, MIDF Research said the average daily trading volume (ADTV) declined for local retailers (nine per cent), and local institutions (13.6 per cent), but increased for foreign investors (27.3 per cent).
On a monthly basis, foreign investors continued to take profit for the second consecutive month across the eight Asian markets tracked, as they net sold US$2.97 billion in May 2024.
This shows a slight moderation compared to April 2024's figure of US$5.91 billion.
According to MIDF Research, net foreign inflows were observed in just two countries last month namely Taiwan with a total of US$2.71 billion, and Malaysia, which saw US$314.3 million (RM1.49 billion).
India experienced the largest net foreign outflow, amounting to US$3.06 billion.
On Bursa Malaysia, the firm said foreign investors shifted to becoming net buyers last month, amounting to RM1.49 billion, following two consecutive months of net selling.
The sectors that recorded the highest net foreign inflows in May 2024 were transportation and logistics (RM647.8 million), technology (RM413.1 million), and utilities (RM409.4 million).
The sectors with the highest net foreign outflows were financial services (RM359.7 million), plantation (RM266.5 million), as well as consumer products and services (RM38.0 million).
Additionally, MIDF Research said local institutions net sold RM656.2 million last month, after providing support to the local bourse with net inflows for two consecutive months prior.
Local retailers were noted as net sellers of domestic equities last month, amounting to RM831.3 million.
In May 2024, there was an uptick in participation among local retailers, local institutions, and foreign investors, with ADTV increasing by 43.3 per cent, 39 per cent and 28.9 per cent respectively.
