Foreign buying on Bursa Malaysia continues

KUALA LUMPUR: Foreign investors marked a fourth straight week of net inflows with RM352.9mil of net purchases on Bursa Malaysia.

According to MIDF Research, there was net foreign buying on every day of the week with the highest inflow of RM193mil observed on Tuesday after the Chinese New year weekend.

"The sectors with the highest net foreign inflows were Financial Services (RM143.6mil), Telecommunication & Media (RM95mil), and Technology (RM61.4mil), while the sectors with the highest net foreign outflows were Utilities (RM29mil), REITs (RM19.1mil), and Construction (RM16.3mil)," said the research firm in its weekly fund flow report.

Local institutions, meanwhile, remained net sellers of domestic equities for the fourth consecutive week with RM277.5mil in net sales.

Local retailers were net sellers for the second week in a row with total net sales of RM7.5.5mil.

MIDF said there were increases in average daily trading volume (ADTV) among local retailers (12.1%) and local institutions (15%), but a decline among foreign investors (11.4%).