Foreign sell-off hits RM565.2mil

KUALA LUMPUR: Foreign investors continued their streak of net outflows on Bursa Malaysia for the fifth consecutive week, with a net outflow of RM565.2 million, according to MIDF Research.
In a note, the firm said the figure was slightly higher than the previous week's outflow of RM444.4 million.
MIDF also added that foreign investors were net sellers on every trading day, with outflows ranging from RM52.5 million to RM202.2 million.
It said the largest outflow was recorded on Friday, followed by Monday with RM130.3 million.
"The three sectors that recorded the highest net foreign inflows were transportation & logistics (RM95.8 million), real estate investment trusts (REITs) (RM38.4 million) and construction (RM28.9 million).
"The top three sectors that recorded the highest net foreign outflows were financial services (RM387.4 million), healthcare (RM110.0 million) and industrial products & services (RM52.9 million)," it said.
Meanwhile, MIDF noted that local institutions continued their buying activities, extending to a fifth week buying streak with net inflows amounting to RM510.6 million.
It also noted that local retailers returned to net foreign buyers last week, recording a net inflow of RM54.7 million, snapping their two-week outflow streak.
"The average daily trading volume (ADTV) saw a broad-based decline last week, with the exception of foreign investors.
"Local institutions and local retailers saw a decline of 13.3 per cent and 10.9 per cent, respectively, while foreign investors saw a surge of 24.0 per cent," it said.

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