Foreigner investors selling streak on Bursa Malaysia enters 12th week

FOREIGN investors continued their selling streak on Bursa Malaysia for the twelfth consecutive week, with net foreign outflows up to RM254.1 million, according to MIDF Research in a note today.

It reported net foreign inflows of up to RM83 million last week, with foreign investors showing interest in stocks such as Public Bank Bhd (RM28.4 million), Malayan Banking Bhd (Maybank) (RM16 million) and Gamuda Bhd (RM15.2 million).

Foreigners have been sellers for 21 out of 27 weeks this year, with a total net foreign outflow of RM4.45 billion, it said.

It said that only two sectors — plantation and construction — posted net foreign inflows last week.

It also reported the top three sectors that recorded net foreign outflows were financial services (RM75.9 million), consumer products an services (RM51.2 million), and industrial products and services (RM50.3 million).

On another hand, it said after net buying of RM53.2 million worth of domestic equities last week, local retailers remained net buyers for the second consecutive week while local institutional investors’ remained net buyers for the sixth consecutive week, totalling up to RM200.9 million.

Following Bank Negara Malaysia’s decision to maintain the Overnight Policy Rate at 3% last Thursday, it reported that last Friday witnessed the highest inflows (RM160.6 million) from the investor class.

“Year-to-date, they have been net buyers of domestic equities for 21 out of 27 weeks, with a total net inflow of RM3.93 billion,” it said. — TMR / pic Muhd Amin Naharul

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