KUALA LUMPUR: Foreign investors sold RM427.1 million in Malaysian stocks last week, marking their 11th consecutive week of net selling, in line with trends across most Asian markets.
MIDF Research in its note today said foreign investors net sold equities across the eight Asian markets that it tracks, totalling –US$ 2.03 billion last week, after briefly net buying the week prior.
For Malaysia, the firm said the most prominent net outflow was recorded on Friday at –RM423.8 million.
The top three sectors that recorded the highest net foreign outflows were construction (-RM89.3 million), financial services (-RM45.8 million), and plantation (-RM45.5 million).
The sectors that recorded the highest net foreign inflows were property (RM115.7 milion), utilities (RM36.8 million), and consumer products & services (RM29.0 million).
In contrast, local institutions continued to support the local bourse for the eleventh consecutive week, with net purchases totalling RM304.0 million in domestic equities," MIDF Research said.
They net bought every day last week and have been net buying for 31 straight trading days.
Meanwhile, local retailers remained net sellers of domestic equities, recording –RM256.9 million in net disposals, extending its streak of net selling to two-weeks," the firm said.
The average daily trading volume (ADTV) saw inclines across the board last week.
Foreign investors saw a rise of 37.5 per cent while local retailers and local institutions saw increases of 7.8 per cent and 13.2 per cent respectively.