KUALA LUMPUR: Foreign investors maintained their net buying momentum on Bursa Malaysia for the second consecutive week, with a total inflow of RM131.8 million in a shortened trading week.
According to MIDF Research, foreign investors net sold –RM96.2 million on Monday and –RM24.6 million on Tuesday but were net buyers on Wednesday, mopping up RM166.0 million and RM86.6 million on Friday.
Trading was closed on Thursday for Federal Territory Day.
The firm said the top three sectors with the highest net foreign inflows were telecommunications and media (RM85.5 million), industrial products and services (RM37.5 million) and plantation (RM23.2 million).
"Meanwhile, the top three sectors with the highest net foreign outflows were utilities (-RM84.8 million), property (-RM49.2 million) and REITs (-RM16.0 million)," it said in a note.
On local institutions, MIDF said it maintained their stance as net sellers for the second straight week at RM141.3 million, with the bulk of the net selling occurring on Wednesday and Friday at RM175.1 million and RM116.8 million respectively.
They net bought RM97.3 million on Monday and RM53.3 million on Tuesday, it said.
Furthermore, MIDF said local retailers recorded their first weekly net buy this year at RM9.5 million after net selling for four consecutive weeks.
It said they net bought RM9.1 million on Wednesday and RM30.2 million on Friday, after net selling RM1.1 million on Monday and RM28.8 million on Tuesday.
"In terms of participation, there was an increase in average daily trading volume (ADTV) among foreign investors by 4.5 per cent while local retailers and institutions saw declines of 17.5 per cent and 15.5 per cent respectively," it added.