Foreign investors continue to exit Bursa Malaysia for fourth week
The research house reported a net outflow of RM444.4 million, which was slightly higher than the RM387.4 million withdrawn in the previous week.
"Foreign investors were net sellers on every trading day except Wednesday, with outflows ranging from RM34.6 million to RM211.6 million," MIDF Research said in its weekly fund flow report on Monday.
"The largest outflow was recorded on Friday, followed by Thursday with RM127.4 million. Wednesday recorded a net inflow of RM10.1 million."
MIDF Research noted that the top three sectors with net foreign inflows were industrial products and services (RM19.4 million), transportation (RM17.3 million), and real estate investment trusts (RM8.2 million).
Foreign investors pulled the most funds from financial services (RM305.2 million), followed by healthcare (RM51.7 million) and property (RM36.8 million).
Local institutions continued their buying activities, extending their streak to four weeks with net inflows totalling RM620.6 million.
Meanwhile, local retailers extended their outflow streak to two weeks, recording a net outflow of RM176.2 million, which was about three times higher than the previous week's net selling of RM57.3 million.
"The average daily trading volume saw a broad-based increase last week, with the exception of foreign investors," it added. "Local institutions and local retailers saw an increase of 12.6 per cent and 14.6 per cent respectively, while foreign investors saw a plunge of 8.4 per cent."
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