KUALA LUMPUR: The net outflow of foreign funds from Bursa Malaysia extended for a 10th straight week with RM240mil net of local equities sold.
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This brought the net foreign outflow from the domestic market to RM3.83bil so far this year.
“This makes Malaysia the second worst performing market in terms of foreign fund flows, in comparison to the eight exchanges that we track,” said MIDF Research in its weekly fund flow report.
According to the research firm, foreigners net sold Malaysian equities on every day of the last week, and have been net sellers for nine consecutive trading days.
Sector that saw the most net outflows last week were consumer products and serves (RM922.miml), energy (RM47.2mil) and industrials (RM34.5mil).
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Meanwhile, sectors that saw the highest net inflows were property (RM14.5mil), financial services (RM14.1mil) and technology (RM11.5mil).
Local institutional investors recorded a fourth straight week of net buying last week with RM250.3mil of net purchases.
Local retailers however were net sellers of RM10.3mil of Bursa Malaysia equitie.
In terms of participation, there was a decline in average daily trading volume (ADTV) across the board among retail investors (10.3%), local institutions (19.6%) and foreign investors (31.0%), said MIDF.
– The Star