KUALA LUMPUR: Bursa Malaysia's benchmark FBM KLCI gained 1.1 per cent week-on-week (wow) to reach a three-year high of 1,637 points last week.

This came as foreign investors increased their net buy in Malaysia equities for the third consecutive week, CIMB Securities said.

Foreign investors were the largest net buyers of Malaysian equities, raising their total net purchases by 53 per cent to RM740 million last week, the firm said. 

This brought their year-to-date net buy value to RM801 million. 

Local institutional investors were the largest net sellers last week as they tripled their net sell value to RM820 million, while local retail investors remained as net sellers with a net sell value of RM194 million. 

However, local nominee and proprietary investors returned as net buyers of RM140.4 million and RM132.8 million respectively.

CIMB Securities' observations of fund flows from July 15-19 showed that foreign investors were the largest net buyers in financial services. 

Their net buy value in the financial sector jumped 4.8 timess WoW last week to RM447.1 million, marking their largest weekly net buy value in  the financial sector in 35 weeks. 

Another notable trend was the significant increase in foreign net buy flows in the property and telco sectors. 

The top three net buys by foreign investors were Malayan Banking Bhd, CIMB Group Holdings Bhd and Tenaga Nasional Bhd (TNB), while YTL Power International Bhd, RHB Bank Bhd and Hong Leong Bank Bhd were among the top three net sells by foreign investors. 

Local institutional investors focused their net selling in the financial services and construction sectors, with Maybank, CIMB and TNB among their top sells.

https://www.nst.com.my/business/corporate/2024/07/1080092/bursa-hits-three-year-high-foreign-investors-return