FOREIGN investors maintained their buying spree on Bursa Malaysia for a third consecutive week with a net purchase of RM740.8 mil last week (July 15-19) after having raked in net inflows totalling RM478.2 mil the week prior.
They net bought every session of the week and have been net buying for 15 consecutive trading days, according to MIDF Research.
“They made net purchases of RM326.6 mil on Monday (July 15), RM64.0 mil on Tuesday (July 16), RM235.9 mil on Wednesday (July 17), RM21.3 mil on Thursday (July 18) and RM93.1 mil on Friday (July 19),” observed the research house in its weekly fund flow report.
The top three net inflow sectors that were financial services (RM593.1 mil), utilities (RM137.5 mil) and property (RM128.7 mil). Sectors that came under net selling pressure were technology (-RM73.8 mil), energy (-RM55.1 mil) and consumer products & services (-RM21.7 mil).
Meanwhile, local institutions continued to net sell for the second week in a row with a net disposal of -RM546.7 mil. They net sold every trading session of last week and have been doing so for seven consecutive trading sessions.
Likewise, local retailers also maintained their net selling stance for the third straight week by disposing -RM194.2 mil of Bursa Malaysia stocks last week.
There was a decline in average daily trading volume (ADTV) among foreign investors and local institutions at -9.0% and -3.0% respectively while local retailers recorded an increase of +2.1%.
In comparison with another four Southeast Asian markets tracked by MIDF Research, foreign funds made a net purchase of US$48.7 mil in Thailand last week after eight weeks in a row of net selling.
The Philippines posted a nine-week high net foreign inflow of US$48.0 mil (fourth successive week of net buying) amidst optimism that its economy will grow above 6.0% in 2024 and 2025 while Indonesia recorded its fourth consecutive week of net buying by foreign investors at US$46.7 mil.
However, the net selling in Vietnam by foreign investors extended into its 20th week with an outflow of -US$30.7 mil.
The top three stocks with the highest net money inflow from foreign investors last week were Malayan Banking Bhd (RM355.2 mil), CIMB Group Holdings Bhd (RM193.1 mil) and Tenaga Nasional Bhd (RM159.3 mil) – July 22, 2024
