KUALA LUMPUR: The net selling on Bursa Malaysia continued into its seventh straight week with net foreign outflows of RM506.5mil.
The result was, once again, at odds with the regional trend as foreign investors were seen moving into Asian markets over the week.
"Based on the provisional aggregate data for the eight exchanges that we track, foreign investors net bought US$4.32b equities, the highest amount of net foreign inflows ever recorded this year.
"The only countries that recorded outflows were Thailand, Malaysia, Philippines, and Vietnam," sid MIDF Research in its weekly fund flow report.
According to MIDF, the local equities market has seen net foreign outflows for 16 out of 22 weeks this year, with a total net foreign outflow of RM2.96bil.
There was net selling in every day of the week ended June 2, 2023.
The counters that saw the heaviest net foreign outflows were RHB Bank (RM45.8mil), Hap Seng Consolidated (RM31.9mil) and Public Bank (RM30.7mil).
By sector, the most net foreign outflows were recorded in financial services (RM181.6mil), consumer products and services (RM161.5mil) and industrial products and services (RM137.4mil).
Meanwhile, sectors that saw the most net foreign inflows were technology (RM47.3mil), telecommunications and media (RM27.4mil) and transport and logistics (RM24.7mil).
Local institutional investors were net buyers over the week at RM372.9mil while lo;cal retailers remained net buyers for the second week with net buying of RM133.6mil.
In terms of participation, there was an increase in average daily trading volume (ADTV) across the board – retailers (13.6%), local institutions (4%) and foreigners (139.4%).
