KUALA LUMPUR, Foreign investors remained net buyers of domestic equities for the sixth consecutive week, recording an inflow of RM271.5 million last week.

In its weekly fund flow report for the week ended Sept 20, 2024, released today, MIDF Amanah Investment Bank Bhd (MIDF) said local institutions also supported the bourse with their second consecutive week of net inflows.

It noted that during the shortened trading week, foreign investors net bought RM167.7 million on Tuesday, RM122.9 million on Thursday, and RM57.0 million on Friday.

‘However, foreign investors turned net sellers last Wednesday and disposed of RM76.1 million on the day,’ it said in the report.

MIDF said the sectors with the highest net foreign inflows were financial services at RM352.2 million, followed by healthcare (RM211.9 million), and property (RM55.0 million).

‘The sectors with the highest net foreign outflows were utilities (RM172.3 million), technology (RM85.3 million), and consumer products and services (RM49.7 million),’ it said.

In terms of local participation, MIDF said local institutions continued to support the local bourse, net buying RM38.7 million last week, marking their second consecutive week of net inflow.

‘Local retailers net sold for the second week in a row, totalling RM310.2 million,’ it said.

MIDF added that the average daily trading volume (ADTV) surged by 10.9 per cent, 4.9 per cent, and 42.9 per cent among local retailers, local institutions, and foreign investors, respectively.

Last week was a shortened trading week, as the market was closed on Monday, Sept 16, in observance of two major public holidays, namely Malaysia Day and the Prophet Muhammad’s birthday.

Source: BERNAMA News Agency