KUALA LUMPUR: Foreign investors are net buyers of Malaysian equities for the fourth consecutive week, mopping up RM524.9 million worth of equities.
MIDF research reported net foreign inflows on all trading days but Tuesday in its money flow report.
"Tuesday recorded net foreign selling at RM23.3 million, with the highest outflows observed in Inari Amertron (RM13.6 million), My E.G. Services (RM10.7 million) and Public Bank (RM7.9 million).
MIDF Research said the sectors that recorded the highest net foreign inflows were utilities (RM208.9 million), financial services (RM156 million), and property (RM126.9 million).
"Meanwhile, the sectors with the highest net foreign outflows were technology (RM69.4 million), consumer products & services (RM64 million), and telecommunication & media (RM16 million)," it added.
For the third week running, local institutions were net sellers of a total of RM141.6 million worth of equities.
Of all the investment groups, the financial services sector saw the largest net outflows, totaling RM139.7 million.
Additionally, MIDF Research observed a shift in local retailers to net sellers of domestic stocks, totalling to RM383.3 million.
In terms of participation, there were notable gains in average daily trading volume (ADTV) among local retailers (44.8 per cent), local institutions (22.6 per cent), and overseas investors (50.8 per cent).