KUALA LUMPUR, June 26 — Local institutional investors had net bought for the fourth straight week at RM250.3 million on Bursa Malaysia last week, according to MIDF Research.

In its Fund Flow Report for the week ended June 23, 2023, the research firm said local investors net bought every day, at RM31.8 million on Monday, Tuesday (RM67.1 million), Wednesday (RM34.4 million), Thursday (RM23.1 million) and RM94 million on Friday.

In contrast to foreign investors, local institutions had been net buyers for 19 out of 25 weeks, with a total amount of RM3.45 billion, it said.

Meanwhile, the net selling by foreign investors had extended into its 10th consecutive week as they net sold RM240 million last week.

Over the past 10 weeks, the net foreign outflow was RM2.06 billion, said MIDF Research.

The research firm said foreign investors net sold every day last week and they had been net selling for nine consecutive trading days.

They net sold RM19.9 million on Monday, Tuesday (RM91 million), Wednesday (RM17.7 million), Thursday (RM15.2 million) and Friday (RM96.2 million) tracking the weak sentiments on Wall Street, the research house said.

MIDF Research also noted that the top three sectors that saw net foreign inflows last week were property (RM14.5 million), financial services (RM14.1 million) and technology (RM11.5 million).

Meanwhile, sectors with the most outflows were consumer products and services (RM92.2 million), energy (RM47.2 million) and industrials (RM34.5 million).

Year to date, it said foreigners have net sold Malaysian equities for 19 out of 25 weeks totalling RM3.83 billion.

As for local retailers, it was a mixed trading week ending with a net selling of RM10.3 million, it said, adding that they net bought RM23.9 million on Tuesday and RM2.3 million on Friday while they net sold RM11.9 on Monday, Wednesday (RM16.7 million) and Thursday (RM7.9 million).

Year to date, it said retailers had been net buyers for 13 out of 25 weeks with a total of RM381.6 million.

In terms of participation, there was a decline in average daily trading volume (ADTV) across the board among retail investors (-10.3 per cent), local institutions (-19.6 per cent) and foreign investors (-31.0 per cent), the research house added. — Bernama