Foreign funds remain net buyers of Bursa Malaysia equities

KUALA LUMPUR: Foreign investors were net purchasers of Bursa Malaysia equities for a fifth straight week last week to the tune of RM465.5mil.

MIDF Research said the offshore funds were net buyers on every day of the week, bucking the regional trend for a third consecutive week.

Over the course of the week, the research house said only India, Malaysia and South Korea recorded net foreign fund inflows out of the eight stock exchanges it covered in the region.

In Malaysia, sectors leading the foreign inflows were financial services (RM274.3mil), technology (RM66mil) and plantation (RM65mil).

Sectors that led the foreign outflows were healthcare (-RM72.2mil), REITs (-RM22mil) and energy (-RM700,000).

Meanwhile, local institutions were net sellers of domestic equities for a fifth straight week with RM321.9mil of net sales.

Local retailers were also net sellers for a fifth week at an accelerated rate of RM143.7mil as compared to RM8.4 mil in the previous week.

In terms of participation, there was a decline in average daily trading volume (ADTV) among retail investors and institutional investors by 2.4% and 5.8% respectively while that of foreign investors remained unchanged.