Foreign investors returned as net buyers of Bursa Malaysia, contributing to a net foreign inflow of RM267.7m. It was a shortened trading week in conjunction with the Thaipusam holiday on Thursday. They only net sold –RM66.6m on Tuesday but were net buyers for the rest of the week.
As expected, Bank Negara Malaysia kept its overnight policy rate unchanged in its first Monetary Policy Committee Meeting of 2024 at 3.00%. MIDF says it expects the central bank to remain status quo on its monetary policy stance throughout 2024, to ensure a sustainable growth momentum for Malaysia’s economy.
The top three sectors with the highest net foreign inflows were Financial Services (RM112.2m), Utilities (RM97.3m), and Property (RM86.6m), while the top three sectors with the highest net foreign outflows were Consumer Products & Services (-RM39.6m), Industrial Products & Services (-RM38.0m), and Healthcare (-RM21.2m).
Local institutions turned net sellers for the week, after disposing –RM167.1m worth of equities. They only net bought RM21.0m on Tuesday but were net sellers for the rest of the week.
Local retailers were still on a net selling spree, net selling –of RM100.6m last week. This is their fourth consecutive week of net selling. Like local institutions, they only net bought on Tuesday at RM45.6m but were net sellers for the entire week.
In terms of participation, there was an increase in average daily trading volume (ADTV) among local institutions and foreign investors by +3.3% and +2.5% respectively while local retailers recorded a decrease of –14.6%.
