KUALA LUMPUR: The outflow of foreign funds from Bursa Malaysia continued for a ninth straight week to the tune of RM189.4mil net.
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According to MIDF Research, the latest week of selling brought Malaysia’s total net foreign outflow for the year so far to RM3.66bil.
This served as a continuation of a diverging trend between Malaysia’s stock exchange and that of regional markets.
Based on the provisional aggregate data for the eight Asian exchanges tracked by MIDF, foreign investors net bought equities amounting to US$3.04bil in the past week, making it seven straight weeks of net inflow of international dollars to the region.
On the domestic market, foreign investors were net sellers for every day of the past week, except for Monday when there was net buying seen in counters such as Maybank, RHB and YTL Corp.
MIDF said the three sectors with the most net foreign outflows were financial services (RM141.4mil), plantation (RM60.1mil) and industrial products and services (RM50.4mil).
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Sectors leading the net inflows meanwhile were transport and logistics (RM103.9mil), construction (RM28.4mil) and consumer products and services (RM14.3mil).
Local institutional investors remained net buyers for a third week with RM81.2mil net of purchases.
Local retailers meanwhile remained net buyers for the fourth straight week with net buying of RM108.3mil.
In terms of participation, there was an increase in average daily trading volume (ADTV) across the board – retailers (13.7%), local institutions (15.1%) and foreigners (46.5%).
– The Star