KUALA LUMPUR, April 29 — Foreign investors concluded their eighth consecutive week of net selling and shifted to become net buyers on Bursa Malaysia, totalling RM292.2 million last week, said MIDF Research.

In its latest weekly Fund Flow Report, MIDF Research said foreign investors have been purchasing sectors such as utilities (RM285.8 million), financial services (RM105.3 million) and telecommunications and media (RM100.3 million).

"Last week, the total net selling across the eight Asian markets we monitor decreased notably to US$158.7 million from US$9.68 billion (US$1=RM4.77) the previous week and among these markets, only Taiwan, Thailand, and Malaysia saw inflows.

"Sectors which saw the strongest net selling were consumer products and services (-RM223.2 million), plantation (-RM68.5 million) and energy (-RM31.6 million),” the report stated.

MIDF Research said local institutions continued their trend of net buying for the ninth consecutive week, with a net purchase totalling RM143.3 million.

As for local retailers, they have sustained their net selling streak for seven consecutive weeks, totalling RM435.5 million.

In terms of participation, the average daily trading volume (ADTV) declined for retail and foreign investors by 10.9 per cent and 15.5 per cent, respectively.

However, local institutions saw a slight uptick of 0.2 per cent. — Bernama