KUALA LUMPUR: MIDF Research said foreign investors have been net buyers in the open market on Bursa for four consecutive weeks, where last week's amount rose to RM354.4mil, the highest in three weeks.
In a note on Monday, MIDF said foreign investors were net buyers every day last week, except on Thursday.
Buying was aggressive on Tuesday, when a net amount of RM215.9mil was mopped up. It was the seventh highest in a day this year.
However, the purchases tapered swiftly and the buying mode shifted to fi rst gear in the rest of the week.
Last week’s purchase reduced further the cumulative net foreign outflow for 2015 to -RM3.10bil. In comparison, the cumulative foreign outfl ow for the entire 2014 was -RM6.93bil.
"We note that the trading activity of foreign investors continue to decline. Foreign participation rate (daily average gross purchase and sale) fell for the third consecutive week to RM869mil. It was almost as low as that during the Chinese New Year week," it said.
It added that local investors were the main players in the market last week. Local institutions offloaded-RM204.2mil, the fourth consecutive week of selling. '
Participation rate remained elevated, rising to RM2.1bil, the highest in a month. Local institutions have absorbed RM3.88bil net so far this year. In 2014, they mopped up RM8.18bil net.
It said retailers continued to sell last week, clearing RM150.2mil. In the last four weeks, retailers have sold a cumulative RM502mil.
"Participation rate remained low at only RM728mil. It had been below RM750mil every week in the last four weeks," it said.
Limited time offer:
Just RM5 per month.
