KUALA LUMPUR: Local institutions persisted in their net buying trend for the sixth consecutive week, with a net purchase of RM557.4 million.
They only net sold RM81.3 million on Tuesday but were net buyers for the rest of the week, amounting to RM638.7 million, according to MIDF Research.
Meanwhile, the net selling trend by foreign investors has now stretched into its sixth consecutive week, with net outflow of RM336.0 million,
In its latest weekly Fund Flow Report, the research house said that this widens the year-to-date net foreign outflow to RM1.21 billion.
MIDF further said that local retailers maintained their net selling stance on Bursa Malaysia for the fourth straight week, disposing RM221.4 million net.
"They net sold every day last week and have been net selling for 21 consecutive trading days," it added.
The research house said the sectors with the highest net foreign inflows last week were property (RM104.4 million), construction (RM36.9m), and healthcare (RM14.6 million), while the sectors that recordedthe highest net foreign outflows were financial services (RM417.0 million), industrial products and services (RM46.0 million), and consumer products and services (RM29.9 million).
In terms of participation, the research house said the average daily trading volume declined across all investor classes last week.
Foreign investors saw a dip of 15.7 per cent while retail and institutional investors saw declines of 0.5 per cent and 1.8 per cent respectively. - Bernama