Foreign purchases of Malaysian equities continued to rise for the fourth consecutive week. Up to RM382.8 million last week from RM172.4 million the previous week.
MIDF Research reported that net foreign funds were bought every day last week with the highest inflow on Tuesday with a value of RM232.6 million.
They also bought a net of RM6.5 million on Monday, RM36.6 million on Wednesday, RM74 million on Thursday and RM33.1 million on Friday. The top three sectors with the highest net foreign inflows are utilities, healthcare and technology. Meanwhile, the top three sectors with the highest outflows are consumer products and services, energy and media telecommunications.
In addition, local institutions continued to record net sales for the fourth consecutive week worth RM355 million. They bought a net of RM11 million on Monday and continued to increase until Friday.
Local traders maintained sales for seven consecutive weeks worth RM27.8 million with net purchases of RM24.6 million on Wednesday.
MIDF further said that there was an increase in average daily trading volume among local traders by 4.9% and local institutions by 9.8%. However, there was a decrease in foreign investors by 5.4%.
Commenting on the global market, MIDF said that out of 20 indices monitored, 13 of them posted gains for the week.
The Dow Jones Industrial Average and the S&P 500 performed well. Thailand's SET, Singapore's Straits Times and Shenzen CSI 300 were the biggest decliners.
FBM KLCI lost 0.46%.
