PETALING JAYA: Net foreign buying of equities on Bursa Malaysia continued into a second week with inflow of RM179 million for the four trading days ended July 21, compared with RM570.9 million in the week prior, according to MIDF Research.
In its weekly fund flow, the research house said foreign investors net bought RM56.3 million on Monday, RM71 million on Thursday and RM61.7 million on Friday but net sold RM10.1 million on Tuesday.
The stock market was closed on Wednesday in conjunction with the Maal Hijrah public holiday.
“The top three sectors which saw net inflows by foreign investors last week were utilities (RM107 million), technology (RM73.5 million) and construction (RM68.4 million). The bottom three sectors with net outflows were consumer products and services (RM103.1 million), financial services (RM35.8 million) and REITs (RM11.2 million). Year-to-date, foreign investors have net sold RM3.70 billion,” it said in a statement.
MIDF Research added that local institutions maintained their net selling stance for the second consecutive week, by RM91.3 million. They net bought RM9.8 million on Monday and RM2.8 million on Tuesday, before net selling RM49 million on Thursday and RM54.9 million on Friday.
Year-to-date, local institutions have net bought RM3.53 billion.
Local retailers, too, net sold for the second consecutive week at RM87.7 million. They net bought RM7.2 million on Tuesday and net sold RM66.1 million on Monday, RM22 million on Thursday and RM6.8 million on Friday. They have net bought RM165.8 million year-to-date.
In terms of participation, there was a decrease in average daily trading volume among foreign investors by 2.9%, while retail investors and local institutions saw increases of 6.8% and 17.4% respectively.