KUALA LUMPUR, Nov 7 — Foreign investors reversed course and became net sellers last week on Bursa Malaysia.

The total net outflows for the week were RM275.92 million. In comparison, foreign investors were net buyers the previous week to the tune of RM292.7 million, said MIDF Research.

It said that three out of five trading days of the week saw net outflows with the largest outflow coming in on Thursday at RM265.04 million.

This was followed by net selling on Tuesday at RM66.99 million and Monday at RM8.40 million.

"Local institutions were net buyers last week with the heaviest inflow on Thursday at RM203.87 million, followed by Tuesday and Monday at RM77.58 million and RM30.84 million, respectively,” it said in its Weekly Money Review research note today.

Local institutions were net sellers in the week for two days only, Friday at RM38.44 million and Wednesday at RM11.51 million.

"The local retailers turned net buyers last week with a record of RM13.57 million inflows for the week.

"They were net sellers at RM22.45 million, RM10.59 million, and RM25.91 million on Monday, Tuesday and Friday.

"They were net buyers on Wednesday and Thursday, at RM11.35 million and RM61.17 million respectively,” said MIDF Research.

It also noted that the top three sectors which saw net outflows were financial services at RM270.3 million, healthcare at RM88.2 million, and industrial products and services at RM37.7 million.

The three sectors with net inflows by foreign investors last week were consumer products and services at RM43.9 million, utilities at RM22.9 million, and transportation and logistics at RM17.3 million.

The research firm said international funds had been net buyers for 25 out of the 44 weeks of 2022, with total net inflows of RM5.76 billion.

Local institutions were net sellers for 30 out of 44 weeks, with a total net outflow of RM7.89 billion, while local retailers had been net buyers for 28 out of 44 weeks of 2022.

Year-to-date, they had been net buyers at RM2.14 billion.

In terms of participation, it said there was an improvement in the average daily trade value (ADTV) among foreign investors by 13.53 per cent and retailers by 2.76 per cent. As for local institutions, there was a decline of 8.00 per cent. — Bernama