FOREIGNERS CONTINUE TO BUY LOCAL STOCKS

KUALA LUMPUR: Foreign investors continued to accumulate stocks listed on Bursa Malaysia, acquiring RM324.7 million last week, said MIDF Research.

This was the eighth time this year that weekly foreign buying exceeded RM300 million, said MIDF Research in its weekly fund flow report.

Global investors made a strong start to the week as they mopped up RM188.3 million net of local equities last Monday. This was also the largest daily amount acquired during the week.

Foreign inflows slowed slightly the next day to RM131 million net. Wednesday saw a decent net outflow of RM27.4 million amid escalated tensions over Syria, which overshadowed the news of volume across Bursa Malaysia exceeding four billion shares.

Foreign investors returned on Thursday and Friday at a marginal level of RM17.5 million and RM15.3 million net, respectively.

MIDF Research said Malaysia and South Korea were the only markets among seven Asian exchanges with foreign inflows on Thursday and Friday.

On a year-to-date basis, foreigners have accumulated RM2.85 billion net of local equities.

The firm said both foreign and retail participation remained robust as their average daily trade value stood above the RM1 billion level last week.

Tenaga Nasional Bhd registered the highest net money inflow of RM15.66 million, followed by Public Bank Bhd (RM12.05 million) CIMB Group Holdings Bhd (RM10.44 million).