KUALA LUMPUR: Foreign investors continued to favour domestic equities on Bursa Malaysia for the fourth consecutive week, as net buying more than tripled to RM524.9 million during the first trading week of 2024 from RM165.3 million in the previous week.
MIDF Research said the net foreign inflow occurred every trading day of the week, except on Tuesday which saw net foreign selling totalling -RM23.3 million.
The highest outflows were observed in Inari Amertron Bhd (-RM13.6 million), My E.G. Services Bhd (-RM10.7 million) and Public Bank (-RM7.9 million).
In its weekly Fund Flow Report released today, it said the Utilities sector recorded the highest net foreign inflow of RM208.9 million, followed by Financial Services (RM156 million) and Property (RM126.9 million).
Meanwhile, the sectors with the highest net foreign outflows were Technology (-RM69.4 million), Consumer Products and Services (-RM64 million), and Telecommunication and Media (-RM16 million).
It said local institutions continued to be net sellers for the third consecutive week at -RM141.6 million.
By sector, the Financial Services witnessed the highest net outflows from this investor category, amounting to -RM139.7 million, it noted.
Local retailers also turned into net sellers of domestic equities at -RM383.3 million.
In terms of participation, MIDF Research noted that there were substantial increases in the average daily trading volume (ADTV) among local retailers (+44.8 per cent), local institutions (+22.6 per cent), and foreign investors (+50.8 per cent). – BERNAMA
