KUALA LUMPUR: Foreign investors continued to inject funds into Bursa Malaysia for the second consecutive week with net purchases totalling RM202.4 million last week compared to net inflows of RM535.0 million in the previous week, according to MIDF Research.

In its weekly fund flow report, the research firm said foreign investors recorded net buying of RM10.7 million on Monday, RM135.1 million on Tuesday and RM197.4 million on Thursday.

They net sold RM82.7 million on Wednesday and RM58.1 million on Friday.

MIDF Research said sectors which recorded the highest net foreign inflows last week were utilities at RM240.8 million, industrial products and services (RM142.8 million) and technology (RM100.8 million).

"The sectors with the highest net foreign outflows were financial services (-RM330.9 million), plantation (-RM126.2 million), and telecommunication and media (-RM77.2 million)," it added.

Meanwhile, local institutions continued their trend of net selling for two consecutive weeks, albeit at a reduced amount of RM25.9 million, representing a 91 per cent decrease compared to the previous week.

"Although there were three days with net buying, the two net selling days on Tuesday and Thursday, totalling RM129.1 million, were enough to offset the net bought amount.

"Local retailers consistently sold off domestic equities for two consecutive weeks, totalling RM176.5 million, with selling occurring every day except Wednesday (RM29.1 million) and Friday (RM37.5 million)," it said.

On participation, the firm noted that retail investors experienced an increase in average daily trading volume by 26.9 per cent, local institutions by 14.1 per cent, whereas foreign investors saw a decline of 4.8 per cent.