KUALA LUMPUR, Nov 6 — Foreign investors turned net buyers on Bursa Malaysia after two weeks of net selling with a net purchase of RM163.7 million, said MIDF Research.

In its Fund Flow Report for the week ended Nov 3, the research house said foreign investors net bought RM58.3 million on Tuesday, RM83.3 million on Thursday and RM210.5 million on Friday.

However, foreign investors were net sellers at -RM79.2 million on Monday and -RM109.2 million on Wednesday.

"The top three sectors with net foreign inflows for the week were utilities (RM56.7 million), construction (RM54.7 million) and property (RM48.5 million).

"Meanwhile, the top three sectors that recorded net foreign outflows were financial services (-RM60.9 million), consumer products and services (-RM42.9 million) and energy (-RM10.8 million),” it said.

According to MIDF, local institutions snapped a four-week net buying spree by selling -RM93.4 million last week.

It said local institutions net sold RM54.0 million on Tuesday, RM41.0 million on Thursday and RM137.6 million on Friday while they net bought RM55.6 million on Monday and RM83.6 million on Wednesday.

Meanwhile, local retailers continued to net sell last week at -RM70.3 million, bringing their net selling streak to four weeks as they net sold -RM4.3 million on Tuesday, -RM42.3 million on Thursday and -RM72.9 million on Friday.

"They net bought RM23.6 million on Monday and RM25.6 million on Wednesday,” said MIDF Research.

In terms of participation, MIDF Research said there were declines in average daily trading volume among foreign investors by -10.4 per cent and among local retailers by -2.6 per cent last week while local institutions recorded an increase of 2.9 per cent. — Bernama