KUALA LUMPUR: Foreign investors net bought RM1.5 billion last week of Malaysian stocks, making it the highest amount in eight years since week ended March 18, 2016.
The weekly net buying on Bursa Malaysia, which ended on Aug 30, also was the highest seen this year, according to the latest weekly fund flow report by MIDF Research.
The research firm said foreign investors continued their trend of net buying for the third consecutive week, higher than RM1.4 billion in the previous week.
"The top three sectors that were net bought by foreign investors were financial services (RM1.3 billion), utilities (RM259.7 million) and construction (RM88.7 million)."
"The top three sectors they net sold were technology (RM60.4 million), transportation and logistics (RM57.2 million), as well as industrial products and services (RM41 million)," it said in the report today.
On the other hand, local institutions net sold RM1.26 billion last week, the highest since the week ended March 4, 2022.
MIDF Research said they net bought RM13.9 million on Monday but net sold from Tuesday to Friday.
Meanwhile, local retailers net sold for the second consecutive week at RM245.4 million.
The firm said, they only net bought RM26.3 million on Thursday but net sold for the rest of the week.
"The average daily trading volume (ADTV) showed an increase of 49.9 per cent among foreign investors while local institutions and local retailers saw declines of 0.4 per cent and 2.8 per cent, respectively," said MIDF Research.