kuala lumpur: Foreign investors increased their long positions on Bursa Malaysia for the third consecutive week last week, with total inflows amounting to RM172.4 million.
However, it was significantly lower than the previous week’s RM676.7 million.
MIDF Research said on Wednesday that daily foreign inflows hit a record high of RM191.9 million. Another net inflow day was Thursday, which saw an inflow of RM43.7 million.
“However, there was a reversal on Friday, with a net outflow of RM58.2 million,” the company said in its fund flow report for the week ended November 17.
According to the research firm, the top three sectors with the highest net inflows from abroad were public works (RM115.2 million), healthcare (RM63.5 million) and transport and logistics (RM51.9 million).
The top three sectors for net overseas outflows were industrial products and services (RM41.6 million), consumer products and services (RM31 million), and technology (RM30.8 million).
The market was closed on Monday for Deepavali.
Meanwhile, the local institution recorded net sales of RM95.6 million last week, the third consecutive week of net sales.
There was net selling on each business day except Friday, when Bank Negara Malaysia reported that Malaysia’s gross domestic product (GDP) rose 3.3% year-on-year in the third quarter of 2023.
The local retailer continued its sixth consecutive week of net sales, with net sales reaching RM76.8 million.
“Tuesday and Friday alone recorded inflows of RM22.8 million and RM3.2 million respectively,” MIDF Research said.
In terms of participation, average daily trading volume increased by 3.6% for local retailers and 3.3% for foreign investors, while it decreased by 7.4% for local institutions. – Bernama