Foreign investors return as net buyers on Bursa Malaysia

LUMPUR: Foreign investors returned as net buyers on Bursa Malaysia, contributing to a net foreign inflow of RM267.7 million, said MIDF Research.

“It was a shortened trading week in conjunction with the Thaipusam holiday on Thursday.

“They only net sold RM66.6 million on Tuesday but were net buyers for the rest of the week,” the research house said yesterday in its Fund Flow Report for the week ended Jan 26, 2024.

MIDF said Bank Negara Malaysia (BNM) kept its overnight policy rate (OPR) unchanged in its first Monetary Policy Committee (MPC) Meeting of 2024 at 3.00 per cent as expected.

“We expect the central bank to remain status quo on its monetary policy stance throughout 2024, to ensure a sustainable growth momentum for Malaysia’s economy,” it said.

MIDF said the top three sectors with the highest net foreign inflows were Financial Services (RM112.2 million), Utilities (RM97.3 million) and Property (RM86.6 million).

“While the top three sectors with the highest net foreign outflows were Consumer Products and Services (-RM39.6 million), Industrial Products and Services (-RM38.0 million) and Healthcare (-RM21.2 million),” it said.

MIDF also said local institutions turned net sellers for the week, after disposing of RM167.1 million worth of equities and only net bought RM21.0 million on Tuesday but were net sellers for the rest of the week.

“Local retailers net sold RM100.6 million last week. This is their fourth consecutive week of net selling.

“Like local institutions, they only net bought on Tuesday at RM45.6 million but were net sellers for the entire week,” it said.

In terms of participation, MIDF said there was an increase in average daily trading volume among local institutions and foreign investors by 3.3 per cent and 2.5 per cent respectively while local retailers recorded a decrease of 14.6 per cent. — Bernama