KUALA LUMPUR, July 10 — Local institutional investors remained as net buyers on Bursa Malaysia last week, snapping up RM200.9 million worth of equities and marking their sixth consecutive week of net buying, according to MIDF Research.

In its Fund Flow Report for the week ended July 7, 2023, the research firm said last Friday witnessed the highest investment inflow for the week from this investor class at RM160.6 million after Bank Negara Malaysia’s (BNM) announced its decision to maintain the overnight policy rate (OPR) at 3.0 per cent.

“Year-to-date, they have been net buyers of domestic equities for 21 out of 27 weeks, with a total net inflow of RM3.93 billion,” it said.

At the same time, local retailers also remained as net buyers for the second consecutive week, net buying RM53.2 million worth of domestic equities last week.

“Year-to-date, local retailers have been buyers for 15 out of 27 weeks. The total net buying year-to-date amounted to RM516.3 million,” the research firm said.

Meanwhile, It also said foreign investors continued their net selling streak on Bursa Malaysia for the twelfth consecutive week, with net foreign outflows reaching -RM254.1 million.

MIDF said last Monday saw net foreign inflows at RM83.0 million, with foreign investors showing interest in stocks such as Public Bank (RM28.4 million), Maybank (RM16.0 million) and Gamuda (RM15.2 million).

“Foreigners have been sellers for 21 out of 27 weeks this year, with a total net foreign outflow of -RM4.45 billion,” it said.

Two sectors posted net foreign inflows last week, namely plantation (RM23.5 million) and construction (RM22.4 million), while the top three sectors that recorded net foreign outflows were financial services (-RM75.9 million), consumer products and services (-RM51.2 million) as well as industrial products and services (-RM50.3 million).

In terms of participation, there was a decrease in average daily trading volume (ADTV) by foreign investors (-17.9 per cent) and retail investors (-1.2 per cent), but an increase among local institutional investors (+3.3 per cent). — Bernama