KUALA LUMPUR: Foreign investors more than doubled its net purchases of stocks on Bursa Malaysia to RM786.1 million last week.
Its the fifth straight week of net inflows.
According to MIDF Research, this was 2.2 times higher than the net inflow amount of RM352.9 million the week before.
Similar to the previous week, the research house said foreign investors net bought every day.
"The net buying streak has gone on for 16 consecutive trading days, something not seen since Feb-22. "The highest net inflow came on Tuesday at RM413.8 million, the day the ringgit fell to its all-time low since 1998," it said in a note.
The sectors with the highest net foreign inflows were financial services (RM287.2 million), utilities (RM235.8 million), and energy (RM76.9 million).
Meanwhile, the sectors with the highest net foreign outflows were real estate investment trusts (REITs) (RM18.6 million), plantation (RM12.4 million), and construction (RM4.4 million).
As opposed to foreign investors, MIDF said local institutions continued their trend of net selling domestic equities for the fifth consecutive week.It said this is totalling RM596.6 million, 2.1 times higher than the week before at RM277.5 million.
"For the third consecutive week, local retailers stuck to their pattern of net selling domestic equities, with total sales reaching RM189.6 million net last week," it said.
In terms of participation, MIDF noted there were increases in average daily trading volume (ADTV) across all investor classes.
"Local retailers saw an increase of 29.9 per cent while local institutions and foreign investors saw increases of 26.6 per cent and 21.6 per cent respectively," it added.