Foreign investors continued to be net purchasers on Bursa Malaysia last week, with RM550.9 million, 2.3 times higher than the previous week and the greatest net foreign inflow in the previous eight weeks, according to MIDF Research.
It said international investors were net buyers every day last week, with net purchases above RM100 million every day except Thursday, when the amount fell to RM48.7 million following the US Federal Reserve’s second rate hike of the year.
Utilities (RM197 million), transportation and logistics (RM110.1 million), and consumer products and services (RM72.8 million) were the top three industries in terms of net foreign inflows.
Meanwhile, according to MIDF Research, the only three industries with net foreign outflows were industrial products and services (-RM38.6 million), healthcare (-RM37.5 million), and telecommunications and media (-RM8.4 million).
“Year-to-date, foreign investors have been net sellers, amounting to RM1.92 billion,” MIDF Research stated in its weekly fund flow report.
Meanwhile, local institutions maintained their net selling position last week at RM472.50 million, the largest since August 19, 2022, when they net sold RM675.9 million.
According to MIDF Research, local institutions have been net sellers every day of the week, with an eight-day net selling run.
Local institutions have been net buyers totaling RM2.68 billion so far this year.
“Local retailers net sold for the 11th week in a row, disposing of RM78.4 million net last week.”
“There hasn’t been a net selling trend in recent years.” “They net bought RM22.3 million on Thursday but net sold the rest of the week,” according to MIDF Research.
Retailers have net sold RM765.7 million so far this year.
In terms of participation, MIDF Research reported a 39.9% decline in average daily trading volume among overseas investors last week, while local merchants and institutions increased by 16% and 14%, respectively.
