Foreign investors became net buyers of RM394.5 mln equities last week - MIDF

KUALA LUMPUR: Foreign investors returned to be net buyers on Bursa Malaysia last week after two weeks of net selling, with net buying of RM394.5 million of equities compared to the net selling of RM357.7 million in the previous week, according to MIDF Amanah Investment Bank Bhd (MIDF).

The research firm said foreign investors bought every day last week, with the bulk of the inflows seen on Wednesday and Thursday at RM259.4 million and RM86.3 million, respectively.

The sectors that recorded the highest net foreign inflows last week were transportation and logistics (RM152.9 million), industrial products and services (RM151.5 million) and technology (RM93.6 million).

"Sectors with the highest net foreign outflows were consumer products and services (RM91.1 million), construction (RM28.6 million) and plantation (RM27.2 million)," it said in its weekly fund flow report.

MIDF said local institutions continued to play their role in supporting the local bourse with a net buying of RM32.2 million last week.

On the contrary, local retailers became the main net sellers of the week, disposing of a total of RM426.7 million net equities. "They net sold every trading day except on Friday when they net bought RM0.4 million," it added.

In terms of participation, there were increases in average daily trading volume (ADTV) among local retailers and local institutional investors by 14.1 per cent and 5.8 per cent respectively while foreign investors recorded a decline in ADTV by -6.7 per cent last week.

-- BERNAMA