5 days ago
- Business
- New Straits Times
Net selling of foreign funds extend to second week
KUALA LUMPUR: Foreign investors extended their selling streak on Bursa Malaysia for the second consecutive week, with net outflows reaching RM1.02 billion.
This was nearly 2.6 times higher than the RM392.3 million recorded the previous week, according to MIDF Research.
In its fund flow report for the week ended May 30, MIDF Research said foreign investors were net sellers throughout all trading days, with daily outflows ranging from RM61.4 million to RM456.7 million.
The highest outflow occurred on Friday at RM456.7 million, followed by Thursday's RM234.6 million.
"The three sectors that recorded the highest net foreign inflows were property (RM47.9 million), construction (RM33.3 million) and energy (RM5.2 million).
"The top three sectors that recorded the highest net foreign outflows were financial services (-RM565.8 million), consumer products & services (-RM172.2 million) and healthcare (-RM129.9 million)," it said.
MIDF Research said local institutions maintained their buying momentum for the second week, with net inflows totaling RM876.5 million, raising their year-to-date net purchases to RM8.78 billion.
Local retailers also sustained their net buying trend for a second week, posting inflows of RM142.6 million.
The firm noted that the average daily trading volume recorded a broad-based increase over the week.
"Local institutions and local retailers saw an increase of 0.03 per cent and 1.0 per cent respectively, while foreign investors saw a rise of 45.6 per cent," it said.
