KUALA LUMPUR: Foreign investors sustained their position as net buyers on Bursa Malaysia for the third consecutive week, with a total inflow of RM172.4 million.
However, this was a significantly moderated rate compared to the previous week’s RM676.7 million.
MIDF Research said Wednesday recorded the highest daily foreign inflow at RM191.9 million.
“On this day, stocks with the highest net buy amounts were Genting (RM23.9 million), PPB Group (RM19.7 million), and YTL Power (RM14.9 million),” it said.
The other net inflow day was on Thursday which saw an inflow of RM43.7 million.
“However, we saw a reversal on Friday which saw a net outflow of RM58.2 million,” it said in its Fund Flow Report for the week ended Nov 17.
The research firm said the top three sectors with the highest net foreign inflows were utilities (RM115.2 million), healthcare (RM63.5 million), as well as transportation and logistics (RM51.9 million).
The top three sectors with the highest net foreign outflows were industrial products and services (-RM41.6 million), consumer products and services (-RM31.0 million) and technology (-RM30.8 million).
The market was closed on Monday for Deepavali.
Meanwhile, local institutions registered net sales of RM95.6 million last week, marking the third consecutive week of net selling.
Each trading day of the week saw net selling, except on Friday when Bank Negara Malaysia (BNM) reported that Malaysia’s gross domestic product (GDP) grew by 3.3% year-on-year in the third quarter of 2023.
Local retailers continued their net selling streak for the sixth consecutive week, with net sales amounting to RM76.8 million.
“Only Tuesday and Friday recorded inflows of RM22.8 million and RM3.2 million, respectively,” MIDF Research said.
In terms of participation, there were increases in the average daily trading volume (ADTV) among local retailers by 3.6% and foreign investors by 3.3%, but a decline among the local institutions by 7.4%.