KUALA LUMPUR: Foreign investors continue to enter Malaysia's equity market for the third week at a faster pace from the week prior, MIDF Research said.
Based on data from Bursa Malaysia, foreign investors bought RM116.45 million net of local equities last week, compared to RM11.35 million net in the preceding week.
MIDF Research said as market reopened on Monday last week, foreign investors and retailers bought RM60.14 million and RM5.89 million net of local equities respectively.
Local institutions started the week as net sellers with RM66.03 million, it added.
MIDF Research said the largest net buying by the foreign investors was recorded on Tuesday at RM89.04 million.
"The momentum of foreign net inflow on Wednesday slowed down to RM21.52 million following the Federal Reserve's decision to increase interest rate," it said.
Only net outflow from foreign funds came in on Friday where it amounted to -RM99.07 million.
"This was despite upbeat Malaysia's economic data which sustained double-digit exports growth in December-21," it said.
MIDF Research said January had so far seen a foreign net inflow of RM0.46 billion.
Meanwhile, the firm said retailers were net sellers for majority of the week except on Monday and Thursday.
The largest net selling by the retailers was recorded on Tuesday at RM26.37 million.
For the week, retailers net sold RM30.69 million worth of equities in Bursa.
MIDF Research said local institutions recorded cumulative weekly net selling to the tune of RM85.74 million.
Local institutions were net sellers for all days of the week except on Friday (RM110.44 million), with the largest net selling on Monday at RM66.03 million.
In terms of participation the retail investors, MIDF Research said local institutions and the foreign investors recorded a weekly movement of -11.07 per cent, -20.59 per cent and -16.20 per cent respectively in average daily trade value.