Bursa Malaysia's record net buying could only last for two weeks as foreign investors turned into net sellers again, with total outflows reaching RM516.6 million for the week ended July 11, according to MIDF Amanah Investment Bank Bhd's weekly fund flow report.
Monday recorded the highest outflow of RM272.3 million, while Tuesday recorded the lowest of RM10.1 million. Over the five trading days, foreign investors remained net sellers.
The financial sector suffered the most pressure with the highest net outflow of RM237.6 million followed by the telecommunications and media sector at RM142.7 million, and the construction sector at RM89.1 million.
On the other hand, the utilities sector recorded the highest foreign inflow of RM52.5 million, followed by the property sector at RM35.4 million and the transportation and logistics sector at RM32.1 million.
Meanwhile, local institutions continued their buying momentum for the eighth consecutive week with net inflows surging to RM463.9 million, compared to just RM61 million the previous week.
Local retail traders also returned to active buying after two weeks of being net sellers, with inflows of RM52.7 million.
However, average daily trading volume showed a decline across all investor categories. Foreign investors recorded a decline of 8.3%, followed by local institutions at 12.9% and retail traders at 1.6%.
