Net foreign buying on Bursa enters third week, RM400.7m inflow

PETALING JAYA: Net foreign buying of equities on Bursa Malaysia continued into the third week with inflow of RM400.7 million, up from RM131.8 million recorded in the prior week, said MIDF Research.

In its fund flow report for the week ended Feb 9, the research house stated that foreigners registered net buying dailyk, with Tuesday recording the highest inflow at RM188.9 million.

“The sectors with the highest net foreign inflows were financial services (RM211.2 million), utilities (RM200.7 million) and technology (RM56.3 million).

“Meanwhile, the highest net foreign outflows were plantation (RM36.4 million), healthcare (RM27.5 million), as well as industrial products and services (RM15.4 million),” said the research house.

MIDF Research remarked that the local institutions persisted in net selling domestic equities for the third consecutive week, amounting to RM276.6 million.

In addition, the financial services sector (RM218.7 million) saw the highest net outflow by this investor group, with them disposing of stocks such as Malayan Banking Bhd (RM88.5 million), CIMB Group Holdings Bhd (RM54.5 million) and Public Bank Bhd (RM44.5 million).

Furthermore, it said that the local retailers resumed net selling on Bursa Malaysia at RM124.1 million after briefly engaging in net buying of RM9.5 million the week before.

In terms of participation, MIDF Research said that there were increases in average daily trading volume among local retailers (36.5%), local institutions (31.7%) and foreign investors (35.5%).

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