Foreign net buying 2.2 times higher at RM786.1 mln

KUALA LUMPUR: Foreign investors continued to be equity net buyers on Bursa Malaysia last week with a net inflow of RM786.1 million, 2.2 times higher than the RM352.9 million recorded the week before.

The performance also marked the fifth consecutive week of net purchases, Midf Research said.

“Similar to the previous week, foreign investors net bought every day. The net buying streak has gone on for 16 consecutive trading days, something not seen since February 2022,” it said in a note yesterday.

It highlighted that the highest net inflow came on Tuesday at RM413.8 million, the day the ringgit fell to its lowest since 1998.

The sectors with the highest net foreign inflows were financial services with RM287.2 million, followed by utilities (RM235.8 million) and energy (RM76.9 million).

The sectors with the highest net foreign outflows were real estate investment trusts (REITs) amounting to -RM18.6 million, plantation (-RM12.4 million) and construction (RM4.4 million).

“As opposed to foreign investors, local institutions continued their trend of net selling domestic equities for the fifth consecutive week, totalling RM596.6 million, 2.1 times higher than the week before at RM277.5 million,” it said.

Local retailers continued to net sold domestic equities for the third consecutive week with total sales reaching RM189.6 million net last week.

In terms of participation, there were increases in average daily trading volumes across all investor classes.

Local retailers saw an increase of 29.9 per cent, while local institutions and foreign investors saw an uptrend of 26.6 per cent and 21.6 per cent respectively. — Bernama