KUALA LUMPUR (Jan 15): Foreign investors ended their four-week long buying streak on Bursa Malaysia last week, disposing of RM93.1 million worth of equities, said MIDF Research.

In its weekly fund flow report released on Monday (Jan 15), the research house said net selling occurred every trading day of the week, except last Monday (Jan 8) when foreigners net bought RM29.8 million, with buying observed in stocks like Public Bank Bhd (RM42.2 million), Sime Darby Bhd (RM29.4 million), and YTL Power International Bhd (RM28.6 million).

“The top three sectors with the highest net foreign inflows were utilities (RM181.4 million), construction (RM67.0 million) and energy (RM51.8 million).

“Meanwhile, the sectors with the highest net foreign outflows were consumer products and services (RM241.2 million), transportation and logistics (RM103.7 million), and industrial products and services (RM99.0 million),” it said.

MIDF Research said local institutions continued as net sellers for the third consecutive week at a total of RM141.6 million.

The technology sector witnessed the highest net outflows from this investor group, amounting to RM122.6 million, it said.

According to the research house, local retailers continued to be net sellers of domestic equities, although at a significantly slower pace at RM10.0 million compared to the previous week’s RM383.3 million.

In terms of participation, MIDF Research noted that there were increases in average daily trading volume among local retailers (2.6%), local institutions (3.4%), and foreign investors (10.6%).