KUALA LUMPUR: Foreign investors extended their selling streak on Bursa Malaysia for the 19th consecutive week with a larger net outflow of RM1.27 billion compared to RM562 million the previous week.
MIDF Research said foreign investors’ selling pressure persisted throughout the week, with Friday witnessing the heaviest outflow at RM646.2 million.
The only sectors that recorded net foreign inflows were construction (RM24.1 million), telecommunication and media (RM14.7 million) and real estate investment trust (RM6.7 million).
Meanwhile, the top three sectors that recorded the highest net foreign outflows were financial services (RM362.1 million), consumer products and services (RM314.9 million) and utilities (RM255.1 million).
In contrast, local institutions remained a pillar of support, marking their 19th consecutive week of net buying, with a substantial RM817.4 million inflow into domestic equities, up from RM316.3 million inflow in the previous week.
Local retail investors continued their net buying streak for the third consecutive week, recording a net inflow of RM447.9 million, a significant increase from RM245.7 million last week.
The average daily trading volume (ADTV) saw broad-based increases with foreign investors experienced a sharp surge of 80.3 per cent, while local institutions saw a 5.8 per cent uptick.
Meanwhile, local retail investors recorded a modest decline of 1.6 per cent.
-NewStraitsTime