KUALA LUMPUR: Foreign investors remained net sellers on Bursa Malaysia for the second straight week at RM113.5 million in a shortened trading week last week.
According to MIDF Research, foreign investors net bought in the first two days of last week and net sold on Wednesday and Friday. Thursday was a public holiday.
The firm said the top three sectors that saw net foreign inflows were property (RM142.5 million), construction (RM40.4 million) and technology (RM30.0 million).
"Bottom three sectors with net foreign outflows for the week were healthcare (RM144.0 million), industrial products & services (RM82.2 million) and consumer products & services (RM60.5 million). "Year-to-date, foreigners have net sold RM2.68 billion," it said in a note.
Local institutions, on the other hand, maintained their net buying stance for the third consecutive week, with a net buying amount of RM191.3 million last week. MIDF Research said they only net sold RM17.1 million on Tuesday but were net buyers on Monday (RM40.0 million), Wednesday (RM103.5 million) and Friday (RM64.8 million).
"Year-to-date, local institutions have net bought RM3.23 billion on equities on Bursa Malaysia," it said.
Meanwhile, the research house said local retail investors continued net selling, which has not stretched into the eighth consecutive week.
It said the net selling amount came up to RM77.8 million last week.
"Year-to-date, local retailers have net sold -RM550.7m."In terms of participation, there was a strong increase in average daily trading volume (ADTV) among foreign investors by 94.3 per cent and among retail and institutional investors by 38.4 per cent and 44.9 per cent respectively," it added.Ends