KUALA LUMPUR: Foreign investors returned to Bursa Malaysia last week, channelling RM242.1 million net into equities following a period of profit-taking in the week before, according to MIDF Amanah Investment Bank Bhd.
In its weekly fund flow report, the investment bank said foreign investors began the week as net sellers, offloading RM17.2 million worth of equities. However, they turned net buyers for the rest of the week, with the strongest net inflow of RM120.7 million occurring on Wednesday.
“The top three sectors that were net bought by foreign investors were financial services (RM417.9 million), construction (RM128.1 million) and telecommunications and media (RM49.8 million). The top three sectors net sold by foreign investors were technology (RM118.8 million), utilities (RM83.8 million), and consumer products and services (RM71.7 million),” it said.
Meanwhile, MIDF reported that local institutions sold off RM363.1 million worth of domestic equities last week, after briefly net buying the previous week. They net bought RM35.5 million on Monday and RM7.3 million on Thursday. However, they were net sellers for the rest of the week, with the most significant net selling day being Friday at RM199.9 million.
“Local retailers net bought RM121 million for the second consecutive week. They net sold on Monday and Thursday, at –RM18.3 million and –RM17.6 million, respectively,” the report added.
The average daily trading volume increased by 20% among foreign investors, while local institutions and local retailers saw declines of 1.0% and 4.8%, respectively. – Bernama
