KUALA LUMPUR: Foreign investors on Bursa Malaysia reversed course after six weeks of net buying, as they net sold RM153.4mil of local equities over the past week.
While the week started on a positive note with a net foreign inflow of RM6.2mil on Monday, things turned sour as offshore funds turned net sellers over the subsequent three days to the tune of RM213.9mil.
On Friday, the 2% increase in the consumer price index helped to bolster investor sentiment, helping to end the week on a net foreign inflow of RM54.4mmil.
Corporate acquisitions also stirred buying interest, including in Boustead Plantations
and UMW Holdings.
By sector, the highest foreign outflow were seen in financial services (RM222.3mil), consumer products and services (107.1mil) and transport and logistics (RM60.2mil).
Meanwhile, the sectors with the most inflows were utilities (RM122.4mil), plantation (RM112.2mil) and property (RM54mil).
As for local institutions, they remained net buyers for the second straight week at RM277.3mil.
Local retailers stayed net sellers for a seventh consecutive week with RM124mil of local equities sold.
In terms of participation, there was a decline in average daily trading volume (ADTV) across the board – retail investors at 1.8%, local institutions at 2.6% and foreign investors at 0.5%.
