Foreign net inflow more than doubles to RM786.1m
KUALA LUMPUR: Foreign investors more than doubled their net purchase of stocks on Bursa Malaysia to RM786.1 million last week, in the fifth straight week of net inflows.
According to MIDF Research, this was 2.2 times higher than the net inflow of RM352.9 million the week before.
Similar to the previous week, MIDF Research said foreign investors recorded net buying every day.
“The net buying streak has gone on for 16 consecutive trading days, something not seen since Feb 22. The highest net inflow was on Tuesday at RM413.8 million, the day the ringgit fell to an all-time low since 1998,” it said in a note.
The sectors with the highest net foreign inflows were financial services (RM287.2 million), utilities (RM235.8 million) and energy (RM76.9 million).
Meanwhile, sectors with the highest net foreign outflows were real estate investment trusts (RM18.6 million), plantation (RM12.4 million) and construction (RM4.4 million).
As opposed to foreign investors, MIDF Research said local institutions continued their net selling equities for the fifth consecutive week, totalling RM596.6 million. This was 2.1 times higher than the previous week’s RM277.5 million.
“For the third consecutive week, local retailers stuck to their pattern of net selling domestic equities, with total sales reaching RM189.6 million net last week,” it said.
In terms of participation, MIDF Research noted there were increases in average daily trading volume across all investor classes.
“Local retailers saw an increase of 29.9 per cent while local institutions and foreign investors saw increases of 26.6 per cent and 21.6 per cent, respectively,” it added.