Foreign investors remain net buyers of equities for 5th consecutive week - MIDF Research

KUALA LUMPUR: Foreign investors continued their net buying spree on Bursa Malaysia for the fifth consecutive week with a net purchase worth RM474.1 million last week, according to MIDF Research.

During the shortened trading week due to the Wesak Day holiday, foreign investors net bought RM102.6 million on Monday and RM474.5 million on Thursday and net sold RM26.2 million on Tuesday and RM76.8 million on Friday, the research house said.

"The sectors with the highest net foreign inflows last week were transportation and logistics (RM221.4 million), technology (RM183.3 million), and construction (RM77.0 million)," MIDF Research said in its latest weekly fund flow report.

The sectors with the highest net foreign outflows were plantation (-RM40.7 million), healthcare (-RM34.2 million), and consumer products and services (-RM34.0 million).

Meanwhile, local institutions continued their net selling streak for the fourth week in a row, with a total net disposal of RM192.5 million, the research house said.

They net sold RM36.1 million on Monday and RM355.3 million on Thursday, and net bought RM101.9 million on Tuesday and RM97.0 million on Friday.

Local retailers also persisted in their net selling, now stretching into their 11th straight week after they net sold RM281.6 million last week.

MIDF Research said they net sold every day of last week and have been net selling for nine consecutive trading days.

In terms of participation, it said average daily trading volume increased for local retailers (up 7.1 per cent), local institutions (12.4 per cent), and foreign investors (18.3 per cent).

-- BERNAMA

Read the latest news here