Offshore funds purchase of RM478.2mil net of local equities

KUALA LUMPUR: Bursa Malaysia registered a net inflow of foreign funds for a second consecutive week to the tune of of RM478.2mil.

MIDF Research said in its weekly fund flow report that the majority of the influx, amounting to RM389.2mil, was recorded on Thursday when Bank Negara announced its decision to maintain the overnight policy rate at 3%.

The sectors that recorded the highest foreign inflows were construction (RM198.2mil), utilities (RM116.1mil) and industrial products and services (RM111.8mil).

Sectors that led net foreign sales were consumer products and services (RM92.7mil), energy (RM33.4mil) and healthcare (RM21.9mil).

Local institutions, meanwhile, turned net sellers of Bursa Malaysia equities with RM318.5mil after three straight weeks of net buying.

Local retailers remained net sellers for the second consecutive week with sales of RM159.8mil.

"Last week, local retailers saw a 1.3% decline in the average daily trading volume (ADTV), local institutions experienced a 10.9% rise, while foreign investors saw a +24.7% increase in ADTV," said MIDF.