Foreign purchases of Malaysian equities increased to RM400.7 million last week from RM131.8 million the previous week. This marks an increase in net purchases for the third week in a row.
According to a MIDF Research report, foreign investors recorded net purchases every day last week with Tuesday seeing the highest inflow of RM188.9 million.
He also said that the sectors with the highest net foreign inflows were financial services (RM211.1 million), utilities (RM200.7 million) and technology (RM56.3 million).
Meanwhile, the highest foreign net outflow was recorded by the plantation sector (RM36.4 million), healthcare (RM27.5 million) and industrial products and services (RM15.4 million).
Local institutions remained in net sales of domestic equity for the third consecutive week amounting to RM276.6 million.
The financial services sector saw the highest net outflow by the investor group of RM218.7 million. That beat shares such as Malayan Banking Bhd or Maybank (RM88.5 million), CIMB Group Holdings Bhd (RM54.5 million) and Public Bank Bhd (RM44.5 million).
Now, the local retailer continued net selling on Bursa Malaysia at RM124.1 million after briefly engaging in net buying of RM9.5 million the previous week.
Commenting on the international scene, MIDF said most global indices closed higher last week with Asian markets having a shortened trading week ahead of Chinese New Year.
The market's gains so far this year have been driven by a strong earnings season, subdued inflation data and a resilient US economy.
