Foreign funds remain net sellers with RM373.5m outflow

KUALA LUMPUR: Local institutions continued their pattern of buying domestic equities, accumulating a total of RM430.7 million for the seventh straight week.

Last week, trading was limited to three days due to the Hari Raya Aidilfitri holidays.

Local retailers remained net sellers, with net sales reaching RM57.1 million, continuing a trend that has lasted for five weeks.

However, their 22-day streak of net sales was momentarily interrupted as they made purchases of RM9.5 million on Tuesday, but they resumed net sales for the remainder of the week.

In the same period, foreign investors sustained their selling streak, with net sales amounting to RM373.5 million. 

This marked the seventh consecutive week of foreign sales, representing a roughly 11 per cent increase from the previous week, according to MIDF Research in its fund flow report for the week ending April 12, 2024.

Foreign investors net-bought property (RM75.3 million), transportation and logistics (RM26.8 million), and construction (RM16.5 million). The sectors they net sold were financial services (RM285.9 million), utilities (RM85.4 million), and consumer products and services (RM52.7 million).

In terms of participation, the average daily trading volume (ADTV) saw a decrease among local retailers (-3.1 per cent) and local institutions (-15.2 per cent), while experiencing an increase among foreign investors (+3.1 per cent).

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