Foreign inflow into domestic market persists at RM474.1mil net

KUALA LUMPUR: The foreign inflow into Bursa Malaysia continued for a fifth consecutive week at a net sum of RM474.1mil despite a midweek holiday that reduced the number of trading days.

MIDF Research reported that foreign investors were net purchasers of Malaysia equities with a the majority of funds going into the transport and logistics (RM221.4mil), technology (RM183.3mil) and construction (RM77mil) sectors.

On the flip side, the sectors that saw the most net outflow of foreign funds were plantations (RM40.7mil), healthcare (RM34.2mil) and consumer products and services (RM34mil).

Local institutions, meanwhile, were net sellers for a fourth straight week with a total of RM192.5mil.

For an 11th straight week, local retailers were net sellers on Bursa Malaysia, with net sales of RM281.6mil.

In terms of participation, average daily trading volume (ADTV) increased for local retailers (7.1%), local institutions (12.4%), and foreign investors (18.3%).

According to MIDF, the performance of the domestic market was in line with wider Asian money flows as foreign investors continued to channel money into the region.

It said net buying over the eight Asian markets it tracks extended for a second consecutive week to US$2.23bil.

"Four countries recorded net inflows, with the bulk of the funds entering Taiwan and India while the remaining four saw net outflows," it said its its weekly fund flow report.

India registered a net inflow of US$743.9mil of foreign funds over the week, while South Korea recorded a fourth consecutive week of net inflow amounting to US$152.1mil and Taiwan extended net foreign inflows for a fifth week with US$1.62bil.