KUALA LUMPUR (Jan 30): Foreign investors sold Malaysian equities worth RM57.8 million during the Chinese New Year holiday-shortened trading week, versus RM168.5 million in the week before.

MIDF Research said this marked the third consecutive week of net sales.

Year to date, foreigners have net sold Malaysian equities worth RM200.77 million.

The research house said last Friday (Jan 27) saw the heaviest outflow at RM30.67 million, followed by last Wednesday at RM26.51 million.

Last Thursday was rather muted, with foreign outflows recorded at RM0.66 million. 

It said local retailers sold a total of RM21 million worth of equities last week. They net sold RM30.8 million last Wednesday, and RM4.8 million last Friday.

“Last Thursday was a net buying day at RM14.6 million. Year to date, local retailers have net sold Malaysian equities worth RM484.62 million,’’ it said in a note.

Nevertheless, in terms of participation, there was an increase in the average daily trading volume among local retailers at 19.2% and foreign investors at 4.6%.

Local institutions remained net buyers for the third consecutive week after net buying RM78.9 million worth of equities last week.

Net inflows stood at RM57.3 million last Wednesday and RM35.5 million last Friday, while last Thursday saw a net outflow of RM14 million by local institutions. 

They have been net buyers of domestic equities so far this year, with a total net inflow of RM685.39 million.