By NUR HAZIQAH A MALEK / Pic By TMR File
Foreign investors acquired a net RM160.9 million worth of Malaysian equities last week versus a net RM190.9 million the week earlier, MIDF Research noted.
The foreign tide into Bursa Malaysia continued for its third week with a slight lag as foreign investors were buyers only last Monday and Tuesday, MIDF’s research revealed.
The foreign buying last week saw Malaysia become the only beneficiary of the foreign inflows among the seven Asian exchanges tracked by MIDF.
To date, Malaysia has received a net RM2.21 billion worth of foreign funds versus RM1.57 billion recorded in the same period last year.
“The foreign average daily trade value (ADTV) stood above the RM1 billion mark for the ninth straight week at RM1.51 billion, resembling active foreign participation. The retail market remained vibrant with a weekly ADTV of RM1.18 billion,” it said yesterday.
The rise in foreign buying was in tandem with the banking stocks’ rally, which pushed the FTSE Bursa Malaysia KLCI to 1,871 points, highest since 2014.
Genting Bhd posted the highest net money inflow of RM15.15 million. Sime Darby Bhd registered net money inflow of RM11.11 million, followed by Malaysia Airports Holdings Bhd, which recorded RM7.81 million. Malayan Banking Bhd saw the largest net money outflow of RM18.18 million last week, however, its stock price has outperformed the market benchmark with a 1.95% gain.