KUALA LUMPUR: Foreign investors continued to be net sellers of Bursa Malaysia equities for a fifth consecutive week, although the pace of selling was significantly lower from a week before.

       As fears over the Omicron variant of the Covid-19 pandemic subsided, MIDF Research data shows that net selling of Malaysian equities subsided to RM38.16mil, compared to a net outflow of RM348.36mil previously.

       Foreign investors were net sellers for the majority of the week with the largest foreign outflow of RM124.28mil recorded on Tuesday.

       Retailers were net buyers on three of the five trading dadys with the largest net buying on Tuesday to the tune of RM48.72mil. However, this was not enough to propel the market to a net bought position despite.

       "For the week, retailers net sold -RM4.19m worth of equities in Bursa.

       "To note, this is the first week retailers recorded net selling after nine consecutive weeks on inflow," said MIDF.

       Local institutions were the only cumulative net buyers on the market with RM42.36mil net purchase over the week.

       Year-to-date, retailers remain the only net buyers on the local market with RM12.44bil net equities. Local institutions have been net sellers of RM9.27bil of equities and foreign investors net sellers of RM3.17bil.

       Market participation dissipated over the previous week as the holiday season started.

       Retail investors, local institutions and foreign investors recorded a weekly movement of 18.98%, 24.17% and 48.32% respectively in average daily traded value.