Foreign funds turn net buyers with RM749.3m

KUALA LUMPUR: Foreign investors turned net buyers last week with a net inflow of RM749.34 million, said MIDF Research in its weekly fund flow report yesterday.

The research firm said this was influenced by Malaysia’s upbeat Industrial Production Index and distributive trade sales data as well as the 3.6 per cent gross domestic product growth in the fourth quarter of last year.

International funds had been net buyers on Bursa Malaysia for four out of the six weeks so far this year, said MIDF Research.

“The net buying by foreign investors last week was also the highest so far this year. The previous high was in the week ending Jan 14 at RM397.85 million.”

The research firm said foreigners were net buyers every day of the week, with the largest inflow on Wednesday at RM279.64 million and the smallest on Monday at RM21.82 million.

MIDF Research said local institutions were also active sellers last week.

The largest net outflow was on Wednesday at RM261.35 million and smallest on Monday at RM32.37 million.

As for the retailers, they were net sellers every day of the week except on Monday, when they recorded an inflow of RM10.55 million.

The largest net selling was on Thursday to the tune of RM64.83 million and the smallest on Tuesday at RM8.44 million.

“On a year-to-date basis, we have observed RM1.052 billion in net inflows from foreign investors,” it added.

MIDF Research said retailers’ net buying was marginal at RM0.98 million while local institutions were net sellers with RM1.05 billion.