Foreign investors returned to Bursa Malaysia last week with RM299.6 mil net buying

KUALA LUMPUR: Foreign investors returned to Bursa Malaysia following the previous week's heavy selloff, recording a net buying of RM299.6 million in Malaysian equities, according to MIDF Amanah Investment Bank Bhd (MIDF).

In its fund flow report for the week ended Aug 16, MIDF noted that while foreign investors recorded net sales of RM74.3 million on Monday, they were net buyers for the remainder of the week.

"The strongest day of net buying was on Friday, with RM288.3 million recorded.

"The top three sectors attracting net buying by foreign investors last week were financial services (RM620.6 million), telecommunications and media (RM93.9 million), and transportation and logistics (RM40.8 million)," it said.

Conversely, the top three sectors that saw net sales by foreign investors were technology (RM143.8 million), property (RM113.3 million), and industrial products and services (RM100.7 million).

In contrast, local institutional investors were net buyers only on Monday, with RM55.7 million, before turning to net sales for the rest of the week.

"In total, they recorded net sales amounting to RM328.9 million.

"Local retailers, however, were net buyers throughout the week, with total net purchases of RM29.3 million," said MIDF.

Meanwhile, the average daily trading volume declined across all investor classes.

Local retailers saw the steepest drop at 45.0 per cent, followed by local institutions at 39.9 per cent and foreign investors at 43.5 per cent.

-- BERNAMA