KUALA LUMPUR: The net selling trend by foreign investors has extended into its seventh consecutive week, amounting to RM373.5 million during the shortened trading week due to the Hari Raya Aidilfitri holidays.
In its latest weekly fund flow report, MIDF Research said this is about 11 per cent wider than the net selling amount of RM336 million in the prior week.
It said the sectors with the highest net foreign inflows last week include property (RM75.3 million), transportation and logistics (RM26.8 million) and construction (RM16.5 million).
“Sectors they were net selling were financial services (-RM285.9 million), utilities (-RM85.4 million), and consumer products and services (-RM52.7 million),” it added.
Meanwhile, it said local institutions remained as net buyers of Bursa for the seventh consecutive week, snapping up RM430.7 million worth of domestic equities.
“Conversely, local retailers remained as net sellers for the fifth consecutive week, with net sales amounting to RM57.1 million.
“They ended their 22-day streak of net selling by making purchases of RM9.5 million on Tuesday but engaged in net selling on Monday and Friday last week,” said MIDF Research.
In terms of participation, the average daily trading volume (ADTV) decreased among local retailers (-3.1 per cent) and local institutions (-15.2 per cent), but increased among foreign investors (3.1 per cent).
