KUALA LUMPUR, June 24 — Local institutions returned to net buying last week, snapping up RM274 million worth of equities after two consecutive weeks of net selling, according to MIDF Research.

In its weekly fund flow report, the research firm said local institutions net bought RM57.5 million on Tuesday, RM66.9 million on Wednesday and RM177.5 million on Friday, and only net sold RM27.9 million on Thursday.

"Similarly, local retailers also net bought last week at RM167.1 million after net selling for two straight weeks. They only net sold RM1.7 million on Friday and net bought for the rest of the week,” it said.

Conversely, after two consecutive weeks of net inflows, foreign funds left Bursa Malaysia last week at a rate of RM441.1 million compared with net purchases totalling RM202.4 million in the previous week, according to MIDF Research.

It said foreign investors net sold every day in the shortened trading week in conjunction with the Hari Raya Haji holiday on Monday.

"They net sold RM80.3 million on Tuesday, RM120.3 million on Wednesday, RM64.7 million on Thursday and RM175.8 million on Friday,” it said.

According to the report, sectors which recorded the highest net foreign inflows last week were Industrial Products and Services (RM130.4 million), Technology (RM65.3 million), and Transportation and Logistics (RM64 million).

Meanwhile, sectors with the highest net foreign outflows were Financial Services (RM529.9 million), Healthcare (RM56.2 million), and Plantation (RM36.4 million).

In terms of participation, it said the average daily trading volume among foreign investors increased to 36.1 per cent, although it declined by 18.1 and 11.1 per cent among local retailers and local institutional investors, respectively. — Bernama