KUALA LUMPUR:Foreign investors net sold RM231.9 million in equities last week, extending their selling streak on Bursa Malaysia to 10 weeks, the longest of the year, according to MIDF Research.
Malaysia was only one of two Asian markets which saw net foreign fund outflow last week.
Foreign investors net bought equities across the eight Asian markets that MIDF Research tracks, totalling US$1.63 billion last week.
Foreign investors net sold RM118.5 million in Malaysian stocks last Monday, followed by RM52.1 million on Tuesday, RM36.3 million on Friday, and RM25 million on Thursday, totalling 27 consecutive days of net selling.
The property (RM36.6 million), industrial products and services (RM31.2 million), and financial services (RM29.6 million) sectors saw the highest net inflows, while the utilities, construction, and healthcare sectors experienced the largest outflows, totalling RM119.5 million, RM88.5 million, and RM68.1 million, respectively.
Despite continued foreign outflows, local institutions were more optimistic, with net purchases of RM416.9 million in equities, marking their 10th consecutive week of net buying.
Local institutions have been net buyers for 27 straight trading days.
In contrast, local retail investors turned net sellers last week, with RM185 million in disposals, after briefly becoming net buyers the previous week.
Overall, trading activity declined across all investor categories, with foreign investor average daily trading volume dropping by 60.2 per cent while local retailers and institutions saw decreases of 30.6 per cent and 38.9 per cent, respectively.