KUALA LUMPUR: Foreign investors maintained their buying spree on Bursa Malaysia with a net purchase of RM740.8 million last week.

This was 54.9 per cent higher than the week prior.

They net bought every day and have been net buying for 15 consecutive trading days.

MIDF Research stated in a note that they bought RM326.6 million on Monday, RM64.0 million on Tuesday, RM235.9 million on Wednesday, RM21.3 million on Thursday and RM93.1 million on Friday.

The top three sectors  were financial services (RM593.1 million), utilities (RM137.5 million), and property (RM128.7 million). 

Technology ( RM73.8 million ), energy (RM55.1 million ), and consumer products & services (RM21.7 million) were the sectors they net sold.

Meanwhile, local institutions continued to net sell for the second week in a row, disposing of RM546.7 million. "They net sold every day last week and have been net selling for seven consecutive trading days.Local retailers maintained their net selling stance for the third straight week after they net sold RM194.2 million last week," MIDF Research said.

The average daily trading volume (ADTV) declined among foreign investors and local institutions by 9.0 per cent and -3.0 per cent respectively while local retailers recorded an increase of 2.1 per cent.

https://www.nst.com.my/business/corporate/2024/07/1079889/foreign-investors-bought-rm741m-shares-last-week-50pct-more