KUALA LUMPUR: Foreign investors continued their trend of net buying on Bursa Malaysia, with an inflow of RM400.7 million, marking the third consecutive week of net purchases, said MIDF Research.
In its fund flow report for the week ended Feb 9, foreigners recorded net buying every day, with the highest inflow occurring on Tuesday at RM188.9 million.
MIDF said sectors that experienced the highest net foreign inflows for the week were Financial Services (RM211.2 million), Utilities (RM200.7 million), and Technology (RM56.3 million).
Conversely, the sectors with the highest net foreign outflows were Plantation (RM36.4 million), Healthcare (RM27.5 million), and Industrial Products & Services (RM15.4 million).
"Local institutions persisted in net selling domestic equities for the third consecutive week, amounting to RM276.6 million."The financial services sector (RM 218.7 million) saw the highest net outflow by this investor group, with them disposing of stocks such as Maybank (RM88.5 million), CIMB Group (RM54.5 million), and Public Bank (RM44.5 million)," it added.
Local retailers returned to net selling on Bursa Malaysia, with a total of RM124.1 million, following a brief period of net buying amounting to RM9.5 million the previous week.
Average daily trading volume (ADTV) rose with local retailers taking up 36.5 per cent, local institutions 31.7 per cent, and foreign investors 35.5 per cent.