KUALA LUMPUR: Foreign funds have been withdrawing from Bursa Malaysia for the second consecutive week, with a net outflow of RM357.7 million, according to MIDF Research.
The weekly fund flow report detailed net flows of -RM164.3 million on Monday, -RM76.3 million on Tuesday, and -RM265.7 million on Thursday.
However, there were net purchases of RM18.0 million on Wednesday and RM130.7 million on Friday.
MIDF Research highlighted that the sectors with the highest net foreign inflows last week were industrial products and services (RM104.4 million), technology (RM67.6 million), and property (RM34.7 million).
Conversely, the financial services (-RM206.9 million), consumer products and services (-RM131.4 million), and construction (-RM110.1 million) sectors experienced the largest net foreign outflows.
Local institutions continued to support the local bourse with a second consecutive week of net buying, totaling RM354.9 million. Similarly, local retailers maintained their trend of net buying for the second week, amounting to RM2.7 million.
In terms of participation, there were declines in the average daily trading volume (ADTV) across all investor classes last week. Foreign investors experienced the largest decline at -34.4%, while local retailers and local institutions saw declines of -19.5 per cent and -15.1 per cent, respectively.
Internationally, MIDF noted that most major markets experienced slight declines last week, with 12 out of the 20 indices it tracks ending in the red.