KUALA LUMPUR: Foreign investors continued to dispose equities on Bursa Malaysia last week, net selling at an 18-week high of RM1.1 billion.
MIDF Research in its fund flow report said they net sold every day last week and have been net selling for 10 consecutive trading days.
The strongest net selling was observed on Friday at RM321.8 million.
The sectors that were net sold were financial services (RM553.3 million), utilities (RM159.5 million), as well as consumer products and services (RM132.3 million.
"The sectors that recorded net foreign inflows were plantation (RM27.5 million), property (RM20.9 million), and energy (RM10 million)," the firm said.
As for local institutions, MIDF Research said they net bought for the fourth consecutive week at RM1.02 billion.
As opposed to foreign investors, they have been net buying for 10 straight trading days.
Similar trend was seen among local retailers too as they continued supporting the market with net buying for the second straight week at RM79.8 million.
They only net sold RM31.8 million on Tuesday but net bought for the rest of the week.
MIDF Research said that the average daily trading volume (ADTV) declined across all investor classes last week.
Foreign investors recorded a decline of 14 per cent, while local retail investors and local institutional investors posted declines of 9.6 per cent and 6.5 per cent respectively.