KUALA LUMPUR: Foreign investors net sold 11 per cent more shares in a 3-day trading week shorted by Hari Raya celebrations last week,  its seventh consecutive week of selling.

Foreign investors net sold RM373.5 million equities last week.

MIDF research in its fund flow report for the week ended April 12, 2024 said, foreign investors net bought property (RM75.3 million), transportation & logistics (RM26.8 million) and construction (RM16.5 million).

Sectors they were net selling were financial services (-RM285.9 million), utilities (-RM85.4 million) and consumer products & services (-RM52.7 million).

Local institutions continued their trend of buying  domestic equities for the seventh consecutive week, with purchases totalling RM430.7 million.

Local retailers continued as net sellers for the fifth consecutive week, with net sales amounting to RM57.1 million.

They ended their 22-day streak of net selling by making purchases of RM9.5m on Tuesday but engaged in net selling throughout the rest of the trading days last week.

MIDF research said in terms of participation, the average daily trading volume (ADTV) saw a decrease among local retailers (-3.1 per cent) and local institutions (-15.2 per cent), while experiencing  an increase among foreign investors (+3.1 per cent).

https://www.nst.com.my/business/corporate/2024/04/1037938/foreign-investors-sold-11pc-more-equities-hari-raya-shortened-3