According to MIDF Research, foreign investors increased their equity sales on Bursa Malaysia last week and achieved the highest net sales of RM1.1 billion, the highest in 18 weeks.
He explained further, they sold net every day last week for 10 consecutive trading days. The most significant net sale occurred last Friday with a total of RM321.8 million.
However, the overall trend is that certain sectors are experiencing net foreign inflows.
These sectors include plantations which saw an inflow of RM27.5 million, real estate with RM20.9 million and energy with RM10.0 million.
On the other hand, significant net sales occurred in the financial services sector with RM553.3 million, utilities with RM159.5 million and consumer service products with RM132.3 million.
Local institutions have been net buyers for four consecutive weeks with equity purchases worth RM1.02 billion.
Similar to foreign investors, they have maintained a net buying streak of 10 consecutive trading days.
Local retailers also contributed positively to the market with net purchases for the second consecutive week totaling RM79.8 million.
They recorded a net sale of RM31.8 million last Tuesday, but returned to net buying for the rest of the week.
