FOREIGN investors sustained their net buying trend on Bursa Malaysia with an inflow of RM352.9 mil, marking the fourth consecutive week of net purchases.
Throughout the week, foreigners recorded net buying every day with the highest inflow observed on Tuesday (Feb 13) at RM193.0 mil following the market’s re-opening after the Chinese New Year break, according to MIDF Research.
“The sectors with the highest net foreign inflows were financial services (RM143.6 mil), telecommunication & media (RM95.0 mil) and technology (RM61.4 mil),” the research house pointed out in its weekly fund flow report.
“The sectors with the highest net foreign outflows were utilities (-RM29.0 mil), REITs (-RM19.1 mil) and construction (-RM16.3 mil).”
On the contrary, local institutions continued their trend of net selling domestic equities for the fourth consecutive week with an amount of RM277.5 mil.
For the second consecutive week, local retailers, too, remained consistent in their pattern of net selling domestic equities with their net sales reaching -RM75.5 mil last week.
In terms of participation, there were increases in average daily trading volume (ADTV) among local retailers (+12.1%) and local institutions (+15.0%) but a decline among foreign investors (-11.4%).
In comparison with another four Southeast Asian markets tracked by MIDF Research, Indonesia posted net foreign inflows for the third consecutive week at US$491.2m as foreign investors appeared to have reacted positively to Prabowo Subianto’s presidential election victory last Wednesday (Feb 14).
The Philippines, too, witnessed net foreign buying totalling US$37.7 mil last week, marking its fourth consecutive week of inflow.
However, Thailand experienced its second consecutive week of net foreign outflows amounting to -US$92.5 mil followed by Vietnam with its third consecutive week of outflow at -US$29.6 mil.
The top three stocks with the highest net money inflow from foreign investors last week were Malayan Banking Bhd (RM129.5 mil), Tenaga Nasional Bhd (RM45.5 mil) and IHH Healthcare Bhd (RM41.7 mil). – Feb 19, 2024
