Foreign investors bought RM202.4 million worth of equity last week

KUALA LUMPUR: Bursa Malaysia continued to receive an injection of funds by foreign investors for the second consecutive week, with net purchases amounting to RM202.4 million last week, compared to net inflows of RM535.0 million in the previous week, according to MIDF Research.

In its weekly fund flow report, Amanah Investment Bank Bhd’s research arm said foreign investors recorded net purchases of RM10.7 million on Monday, followed by RM135.1 million on Tuesday and RM197.4 million last Thursday.

They made a net sale of RM82.7 million on Wednesday and RM58.1 million on Friday.

MIDF Research said the sectors that recorded the highest net foreign inflows last week were utilities, amounting to RM240.8 million, industrial products and services (RM142.8 million), and technology (RM100.8 million).

“The sectors with the highest net foreign outflows are financial services (-RM330.9 million), plantations (-RM126.2 million), and telecommunications and media (-RM77.2 million),” he said.

In the meantime, local institutions continued the flow of net sales for two consecutive weeks, albeit at a lower amount of RM25.9 million, or a 91 percent decrease compared to the previous week.

“Despite recording three days of net buying and two days of net selling on Tuesday and Thursday amounting to RM129.1 million, this is enough to offset the net amount of buying.

“Local retailers, for example, have consistently sold domestic equity for two consecutive weeks amounting to RM176.5 million. These sales happen every day except Wednesday (RM29.1 million) and Friday (RM37.5 million),” he said.

In terms of participation, MIDF Research said retail investors experienced an increase in average daily trading volume of 26.9 percent, which is local institutions by 14.1 percent, while foreign investors decreased by 4.8 percent.