KUALA LUMPUR: Local institutions' net buying of Malaysian equities more than tripled to RM1.42 billion last week from RM443.5 million in the previous week, according to MIDF Research.
In its latest weekly Fund Flow Report, the research house said local retailers also engaged in net buying activities for the second consecutive week, amounting to RM94.8 million.
Meanwhile, foreign investors net sold RM1.51 billion worth of equities on the local bourse last week.
"Towards the end of the week, there was a moderation in the amount of net selling, likelyinfluenced by Bank Negara Malaysia's decision to maintain its Overnight Policy Rate (OPR) at 3.00 per cent as anticipated," it said.
The property sector recorded the largest inflow of RM73 million, followed by transportation and logistics (RM44 million) and construction (RM19.7 million).
Meanwhile, the sectors with the highest net foreign outflows were financial services with RM940.9 million, followed by industrial products and services (RM181.5 million) and consumer products and services (RM153.3 million).
In terms of participation, all investor classes registered declines in average daily trading volume.
Local retailers' volume decreased by 23.2 per cent, while local institutions and foreign investors saw declines of 22.4 per cent and 41.9 per cent, respectively. - Bernama