KUALA LUMPUR: Foreign investors sold almost 39 per cent more equities on Bursa Malaysia last week, continuing its selling for a fifth consecutive week, with RM435.1 million net sold.
The firm added that the three-day net buying streak by foreigners ended on Monday, amounting to RM13.7 million.
"On Monday, official data revealed that Malaysia's leading index expanded by 3.2 per cent year-on-year (YoY) in January 2024, indicating a more promising outlook in the forthcoming months.
"However, starting from Tuesday onward, net selling resumed," it said.
MIDF Research noted that the sectors with the highest net foreign inflows last week were property (RM87.1 million), construction (RM20.2 million), and energy (RM16.9 million).
It said the sectors that recorded the highest net foreign outflows were financial services (RM210.8 million), consumer products and services (RM123.3 million), and plantations (RM94.7 million).
Meanwhile, MIDF Research also said local institutions persisted in their net buying trend for the fifth consecutive week, with a net purchase of RM587.7 million.
It said, unlike foreign investors, they recorded a net selling of RM11.9 million on Monday, followed by a net buying of RM599.6 million from Tuesday to Friday.
The firm added that local retailers sustained their net selling streak last week, totalling RM152.7 million, selling every trading day for the past 16 days.
Regarding participation, MIDF Research said the average daily trading volume (ADTV) decreased for retail and institutional investors by 0.9 per cent and 0.7 per cent respectively.
However, it was noted that foreign investors recorded a slight increase of 0.5 per cent.