KUALA LUMPUR: Foreign investors returned as net buyers of Bursa Malaysia, contributing to a net inflow of RM267.7 million last week, according to MIDF Research.
It was a shortened trading week in conjunction with the Thaipusam holiday on Thursday.
MIDF Research noted that they only net sold RM66.6 million on Tuesday but were net buyers for the rest of the week.
"As expected, Bank Negara Malaysia kept its overnight policy rate (OPR) unchanged in its first Monetary Policy Committee (MPC) meeting of 2024 at 3.00 per cent.
"We expect the central bank to remain status quo on its monetary policy stance throughout 2024, to ensure a sustainable growth momentum for Malaysia's economy," the firm said in its fund flow report today.
The top three sectors with the highest net foreign inflows were financial services (RM112.2 million), utilities (RM97.3 million) and property (RM86.6 million).
The top three sectors with the highest net foreign outflows were consumer products and services (RM39.6 million), industrial products and services (RM38.0 million), and healthcare (RM21.2 million).
Meanwhile, MIDF Research said local institutions turned net sellers for the week, after disposing RM167.1 million worth of equities.
They only net bought RM21.0 million on Tuesday but were net sellers for the rest of the week.
"Local retailers were still on a net selling spree, net selling RM100.6 million last week.
"This is their fourth consecutive week of net selling. Like local institutions, they only net bought on Tuesday at RM45.6 million but we net sellers for the entire week," it added.
In terms of participation, MIDF Research said there was an increase in average daily trading volume among local institutions and foreign investors by 3.3 per cent and 2.5 per cent respectively, while local retailers recorded a decrease of 14.6 per cent.