Foreign Interest In Local Market Stretches Into Week 3

The interest in Malaysian equities among foreign investors stretched into its third week as they net bought RM165.3m worth of shares on Bursa Malaysia. It was a shortened trading week due to the Christmas holiday on Monday. They net bought RM85.2m on Wednesday and RM187.9m on Thursday but net sold -RM50.3m on Tuesday and -RM57.5m on Friday.

For the week, the top three sectors with the highest net foreign inflows were Technology, Energy and Industrial Products & Services. The top three sectors with the highest net foreign outflows were Financial Services, Healthcare and Construction.

Local institutional investors continued to net sell for the second straight week at -RM189.6m, which was 77.7% more than the week prior. They net bought RM21.0m on Tuesday and RM58.9m on Friday but net sold -RM66.9m on Wednesday and -RM202.7m on Thursday. Local retailers net bought RM4.3m last week, after net selling in the two previous weeks. They net bought RM29.3m on Tuesday and RM14.8m on Thursday but net sold -RM18.4m on Wednesday and -RM1.4m on Friday.

In terms of participation, investment house MIDF noted an increase in average daily trading volume (ADTV) among local institutions by +11.6% while local retailers and foreign investors saw declines of -4.3% and -22.0% respectively.

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