Foreign investors net buyers on Bursa for second week running

PETALING JAYA: Foreign investors upped their trading on Bursa Malaysia last week, mopping up equities to emerge as net buyers for the second consecutive week, said MIDF Research.
“Based on preliminary data from Bursa which excluded off-market trades, foreign investors bought RM493.9 million net, the highest weekly haul in the past 20 weeks,” it said in its fund flow report yesterday.
Last week, foreign investors were net buyers in four out of five trading days. Year-to-date, foreigners have mopped up RM1.1 billion worth of local equities.
MIDF Research noted the strong foreign buying on Wednesday, amounting to RM193.8 million which coincided with the foreign average daily trade value (ADTV) of RM1.05 billion, the fourth time this year it surpassed RM1 billion.
“Overall, the reported net inflow for the week was higher than that in Thailand, Indonesia and the Philippines,” it said.
As of Friday, foreign investors had already acquired RM687.9 million worth of equity in February, surpassing the RM418.8 million mopped up in January.
The foreign ADTV remained relatively elevated, increasing slightly by 1.7% to RM915.6 million, while the retail market is springing to life as retail ADTV rose 17% to RM813 million, marking the highest ADTV since the last week of November 2015.