Second week of foreign net outflow

KUALA LUMPUR: Foreign investors were net sellers on Bursa Malaysia last week with a net outflow of RM550.9 million.

MIDF Research said this was the second straight week of outflow after seven weeks of inflow.

As the market reopened last Monday, local institutions and retailers were net sellers at RM41.55 million and RM4.97 million, respectively, said MIDF Research in its weekly fund flow report yesterday.

Foreign investors were net buyers to the tune of RM46.53 million on Monday and were net sellers for the rest of the week.

The largest foreign outflow was on Wednesday at RM263.83 million.

Retailers were net buyers every day except Monday.

The largest net buying by the retailers was on Wednesday (RM164.57 million).

For the week, retailers bought RM394.39 million net worth of equities in Bursa.

Local institutions recorded cumulative weekly net buying of RM156.52 million.

The largest net buying was on Wednesday at RM99.26 million, while the smallest net inflow was on Thursday amounting to RM29.58 million.

Since the beginning of the year, cumulatively, retailers had been the only net buyers of the local market with RM12.09 billion.

Local institutions and foreign investors were net sellers with RM9.69 billion and RM2.40 billion, respectively.