FOREIGN investors continued their net buying spree on Bursa Malaysia for the fifth consecutive week during the trading period ended May 24 by mopping up RM474.1 mil worth of stocks on Bursa Malaysia (week ended May 17: RM873.9 mil).

This is despite last week being a shortened trading week in view of the Wesak Day public holiday on Wednesday (May 22).

“Foreign investors net bought RM102.6 mil on Monday (May 20) and RM474.5 mil on Thursday (May 23) but net sold -RM26.2 mil on Tuesday (May 21) and -RM76.8 mil on Friday (May 24),” MIDF Research pointed out in its weekly fund flow report.

“Sectors with the highest net foreign inflows last week were transportation & logistics (RM221.4 mil), technology (RM183.3 mil) and construction (RM77.0 mil) while those with the highest net foreign outflows last week were plantation (-RM40.7 mil), healthcare (-RM34.2 mil) and consumer products & services (-RM34.0 mil).”

On the contrary, local institutions continued their net selling streak for the fourth week in a row with at -RM192.5 mil. They net sold -RM36.1 mil on Monday (May 20) and -RM355.3 mil on Thursday (May 23) but net bought RM101.9 mil on Tuesday (May 21) and RM97.0 mil on Friday (May 24).

Likewise, local retailers persisted in their net selling which now stretches into an 11th straight week after they net sold -RM281.6 mil. Retailers net sold every trading session of last week and have been net sellers for nine consecutive trading days.

In terms of participation, average daily trading volume (ADTV) increased for local retailers (+7.1%), local institutions (+12.4%) and foreign investors (+18.3%).

In comparison with another four Southeast Asian markets tracked by MIDF Research, all recorded net outflows from foreign funds with Vietnam having posted its 12^th straight week of net outflow at -US$152.2 mil.

In Thailand, foreign investors net sold -US$134.2 mil after briefly net bought the week before while foreign net selling in Indonesia entered its eighth successive week at -US$87.0 mil last week.

The Philippines also saw foreign investors net sold -USD8.8 mil after a brief period of net buying the previous week.

The top three stocks with the highest net money inflow from foreign investors last week were Malaysia Airports Holdings Bhd (RM201.7 mil), Tenaga Nasional Bhd (RM179.1 mil) and Bursa Malaysia Bhd (RM71.7 mil). - May 27, 2024

https://focusmalaysia.my/foreign-funds-extend-presence-in-bursa-for-5th-straight-week-with-net-inflow-of-rm470m/