Foreign funds net buyers near RM1b in week ended March 4

KUALA LUMPUR: Foreign funds were net buyers on Bursa Malaysia in the week ended March 4 at RM972.2mil, says BIMB Securities Research.

It said on Monday foreign funds were also net buyers on Friday at RM303.3mil.

BIMB Research said during the week, local institutions and retail investors were net sellers at –RM819.7mil and –RM152.5mil.

The FBM KLCI ended last Friday up 0.25% or 4.29 points to close at 1,692.49 in tandem with the increase in crude oil prices. 

Asian shares closed mixed due to some profits taking after recent sharp gains ahead of China's annual legislative sessions and next week's ECB and BoJ meetings. 

US market also finished the session in positive territory amid to a sharp increase by the price of crude oil.  The Dow rose 62.87 points or 0.4% to 17,006.77 and the S&P 500 climbed 6.59 points or 0.3% to 1,999.99. 

“For today, we anticipate the index to gain buying interest following a positive lead from Wall Street and expect the index to hover at around 1,700 to 1,710,” BIMB Research said.