KUALA LUMPUR: Foreign investors were net sellers of domestic equities for second consecutive week, with a total net selling of RM396.9 million, last week.
MIDF Research noted Wednesday recorded the highest daily foreign outflow of RM150.4 million with foreign investors selling stocks like Hong Leong Bank Bhd, Kuala Lumpur Kepong Bhd and Gamuda Bhd.
"Year-to-date (YTD) foreign investors have net sold RM4.13 billion on Bursa Malaysia."The top three sectors with the highest net foreign inflows were utilities, technology and property, while the top three sectors with the highest net foreign outflows were financial services, consumer products & services and construction," it said in a report.
Local institutions have maintained their trend of purchasing domestic equities for the fourth consecutive week, with a net buying amount of RM493.1million. •Local retailers have persisted as net sellers of domestic equities for the third consecutive week, totalling -RM96.2 million in net sales. YTD, retailers have accumulated net sales amounting to RM756.8 million. In terms of participation, there was a decrease in average daily trading volume (ADTV) among retail (3.6 per cent) and foreign (26.1 per cent) investors, but an increase among institutional investors (2.7 per cent).