Foreign investors remain net buyers for 2 weeks with RM132 million inflow
Published on: Monday, February 05, 2024
By: Bernama
The top three sectors with the highest net foreign inflows were telecommunications and media, industrial products and services, and plantation, says MIDF Research. (Bernama pic)
PETALING JAYA: Foreign investors remained as net buyers on Bursa Malaysia for the second consecutive week, contributing to a net foreign inflow of RM131.8 million, said MIDF Research.
In its Fund Flow Report for the week ended Feb 2, 2024, MIDF said foreign investors were net buyers on Wednesday and Friday, amounting to RM166 million and RM86.6 million, respectively, while they net sold on Monday and Tuesday, posting RM96.2 million and RM24.6 million, respectively.
ADVERTISEMENT
It was a shortened trading week in conjunction with the Federal Territory Day on Thursday, the research house said.
“The top three sectors with the highest net foreign inflows were telecommunications and media (RM85.5 million), industrial products and services (RM37.5 million) and plantation (RM23.2 million), while the top three sectors with the highest net foreign outflows were utilities (RM84.8 million), property (RM49.2 million) and real estate investment trusts (RM16 million),” it added.
MIDF said local institutions maintained their stance as net sellers for the second straight week at RM141.3 million, with the bulk of the net selling occurring on Wednesday and Friday at RM175.1 million and RM116.8 million, respectively.
“They net bought RM97.3 million on Monday and RM53.3 million on Tuesday,” it said.
ADVERTISEMENT
Meanwhile, local retailers recorded their first weekly net buy this year at RM9.5 million after net selling for four consecutive weeks.
“They net bought RM9.1 million on Wednesday and RM30.2 million on Friday, after net selling RM1.1 million on Monday and RM28.8 million on Tuesday.
ADVERTISEMENT
“In terms of participation, there was an increase in average daily trading volume among foreign investors by 4.5%, while local retailers and local institutions saw a decline of 17.5% and 15.5%, respectively,” it said.
Stay up-to-date by following Daily Express’s Telegram channel.
Daily Express Malaysia
