Foreign buying on Bursa drops to RM702m

By TMR

The momentum for foreign buying of local equities have continued for the fourth consecutive week on Bursa Malaysia, but at a weaker pace, according to an MIDF Research report yesterday.

The research house said foreign funds were net long by RM702.2 million last week, compared to net long by RM772.2 million in the previous week.

The report noted that foreign buying picked up on concerns over the US government shutdown.

The retail average daily trade value also remained elevated at RM1.76 billion, marking the fourth week above the RM1 billion level.

Power utility Tenaga Nasional Bhd registered the highest net inflow of RM13.35 million, while Felda Global Ventures Holdings Bhd recorded RM5.39 million, the second-highest net money inflow. Alliance Bank Malaysia Bhd saw the third-highest net money inflow of RM4.96 million.

The highest net outflow was seen in Petronas Chemicals Group Bhd, amounting to RM28.57 million, while Petronas Dagangan Bhd saw the second-largest net money outflow of RM23.34 million.