Foreign investors continued to sell shares on Bursa Malaysia last week, with sales hitting an 18-week high of RM1.10 billion, according to MIDF Amanah Investment Bank Bhd (MIDF ) said.
In its financial report for the week ended October 4, 2024, MIDF said that foreign investors sold net daily and sold net for 10 consecutive trading days. MIDF also said the strongest net sales were seen on Friday, at RM321.8 million. The sectors that recorded net sales were financial services (RM553.3 million), infrastructure (RM159.5 million) and consumer goods and services (RM132.3 million). “Sectors that recorded net foreign capital were agriculture (RM27.5 million), real estate (RM20.9 million) and energy (RM10.0 million).
It was also reported that local companies made net purchases for the fourth week in a row, amounting to RM1.02 billion.
Unlike foreign investors, they made net purchases for 10 consecutive trading days. Local traders continued their work in supporting the market, with net purchases for the second consecutive week at RM79.8 million, he said.
Average daily trading volume (ADTV) fell across all investors last week, with foreign investors down 14.0%, while local investors and those -Investment in the post area is down 9.6% and 6.5%, respectively. Regionally, MIDF reported an outflow of foreign funds from Asia last week, with foreign investors selling shares in six of the eight markets it tracks.
Net outflow of foreign currency hit a 24-week high of $7.31 billion, driven by remittances from China. He added that only the Philippines and Vietnam recorded network penetration last week.
