KUALA LUMPUR: Foreign investors continued to sell equities on Bursa Malaysia for the fourth consecutive week, last week, coming in at a smaller amount of –RM259.8 million, according to MIDF Research's fund flow report.
The outflow was part of a wider withdrawal from Asia's equities, with foreign investors net selling at a six-week high of US$5.85 billion.
They net sold across all the eight countries that MIDF Research tracks, with the bulk of the net outflows coming from Taiwan and South Korea the firm said, as foreign investors' digest the impact of US President-elect Donald Trump's proposed tariffs and policies that he campaigned for, if implemented.
In Malaysia, foreign investors, net sold every day last week and have been net selling for seven straight trading days.
The heaviest net outflow was –RM104.4 million on Monday, followed by –RM67.6 million on Thursday. Tuesday, Wednesday and Friday saw net outflows of –RM17.2 million, -RM46.6 million and –RM24.1 million respectively.
The top three sectors that registered net foreign outflows were transportation & logistics (-RM120.2 million), utilities (-RM98.5 million), and consumer products & services (-RM79.2 million).
While, the top three sectors that recorded net foreign inflows were plantation (RM72.9 million), healthcare (RM64.0 million), and property (RM29.0 million).
As opposed to foreign investors, local institutions were net buyers of Malaysian equities for the fourth consecutive week, net buying RM207.7 million last week.
They net sold a minor –RM1.4 million on Tuesday but were net buyers for the rest of the week.
Local retail investors were net buyers last week at RM52.1 million.