KUALA LUMPUR, Foreign investors turned net sellers of equities on Bursa Malaysia last week as they took profit after six straight weeks of net buying, according to MIDF Amanah Investment Bank Bhd (MIDF).

In its fund flow report for the week ended Sept 27, 2024, MIDF said foreign investors net sold every day last week, resulting in a net outflow of RM527 million.

The strongest net selling was observed on Wednesday at RM165.5 million, it said.

“The sectors that recorded the highest net foreign inflows were utilities (RM40.9 million), industrial products and services (RM24.8 million) and healthcare (RM8.2 million).

“Meanwhile, the sectors with the highest net foreign outflows were financial services (-RM193.7 million), technology (-RM137.3 million) and consumer products and services (-RM50.7 million),” it said.

The research house noted that local institutions continued to support the local bourse, with a net buying of RM240.3 million last week, marking their third consecutive week of net buying.

“They net
bought every day last week.

“Meanwhile, local retailers net bought RM286.7 million last week, after net selling for two straight weeks. They too, net bought every day last week,” it added.

The average daily trading volume (ADTV) declined across all investor classes last week.

Foreign investors recorded a decline of 34.0 per cent, while local institutional investors and local retail investors posted declines of 21.2 per cent and 7.6 per cent, respectively.

Source: BERNAMA News Agency