KUALA LUMPUR, Foreign investors continued to buy domestic equities for the second consecutive week with net purchases totalling RM478.2 million, according to MIDF Amanah Investment Bank Bhd (MIDF).

The investment bank said the majority of this influx amounted to RM389.2 million which occurred last Thursday when Bank Negara Malaysia (BNM) decided to maintain the overnight policy rate (OPR) at 3.00 per cent after concluding its two-day Monetary Policy Committee (MPC) meeting.

‘The top three sectors that foreign investors net bought were construction (RM198.2 million), utilities (RM116.1 million) and industrial products and services (RM111.8 million),’ it said in a statement today.

Meanwhile, sectors in net sold position were consumer products and services (RM92.7 million), energy (RM33.4 million) and healthcare (RM21.9 million).

MIDF said local institutions shifted to net selling of domestic equities, amounting to RM318.5 million, following three consecutive weeks of net buying.

‘Local retailers remained
net sellers for the second consecutive week, with sales totalling RM159.8 million.

‘Last week, local retailers saw a 1.3 per cent decline in the average daily trading volume (ADTV), local institutions experienced a 10.9 per cent rise, while foreign investors saw a 24.7 per cent increase in ADTV,’ it added.

Source: BERNAMA News Agency