KUALA LUMPUR: The foreign outflow from Bursa Malaysia continued for a fourth consecutive week with net selling of RM348.36mil, which compares to net sales of RM383.76mil in the preceding week.

       According to MIDF Research data, the extended selling by foreigners came despite a rebound in the FBM KLCI last week, which rose 0.88% week-on-week after nine consecutive weeks of decline and breached the 1,500 psychological level.

       Year-to-date, foreign investors have been net sellers of local equity to the tune of RM3.13bil.

       For the week ended Dec 17, offshore funds were net sellers for every day of the week with the largest outflow recorded on Tuesday at RM153.28mil.

       Retailers by contrast were net buyers on every day of the week, chalking up the largest net purchase on Monday with RM44.19mil.

       Over the course of the week, retailers were net buyers of RM126.45mil worth of Bursa equities.

       Meanwhile, local institutions registered a weekly net purchase of RM221.92mil with the largest net amount posted on Tuesday to the tune of RM115.82mil.

       Local institutions remain the biggest net sellers of Malaysian equities, with a total net deficit of RM9.31bil so far this year.

       By average daily trade value, the retail investors, local institutions and foreign investors recorded a weekly movement of -4.93%, -0.59% and 15.11% respectively.