KUALA LUMPUR: Foreign investors remained net buyers on Bursa Malaysia with a net inflow of RM740.8mil, a 54.9% increase over the prior week.

This came amid growing confidence that the US Federal Reserve will begin dialling back interest rates in September.

US policymakers have indicated over the last week that inflation is moving towards the central bank's target of 2%, suggesting a US central bank rate reduction is approaching.

According to MIDF Research, foreign investors have been net buyers for 15 consecutive days on the local market.

The sectors that saw the highest net inflow of foreign funds were financial services with RM593.1mil, followed by utilities and property .

Net outflows, meanwhile, were led by technology , energy and consumer products and services .

Local institutions were net sellers for the second week in a row , with RM546.7mil net sold, while local retailers remained net sellers for the third straight week with RM194.2mil.

"The average daily trading volume (ADTV) registered declines among foreign investors and local institutions by 9% and 3% respectively while local retailers recorded an increase of 2.1%," said MIDF.

https://www.thestar.com.my/business/business-news/2024/07/22/offshore-funds-remain-net-buyers-of-malaysian-equities