KUALA LUMPUR, Jan 29 — Foreign investors returned as net buyers on Bursa Malaysia, contributing to a net foreign inflow of RM267.7 million, said MIDF Research.
“It was a shortened trading week in conjunction with the Thaipusam holiday on Thursday. They only net sold RM66.6 million on Tuesday but were net buyers for the rest of the week,” the research house said today in its Fund Flow Report for the week ended Jan 26, 2024.
MIDF said Bank Negara Malaysia (BNM) kept its overnight policy rate (OPR) unchanged in its first Monetary Policy Committee (MPC) Meeting of 2024 at 3.00 per cent as expected.
“We expect the central bank to maintain its monetary policy stance throughout 2024, to ensure the sustainable growth momentum of Malaysia’s economy.”
MIDF said the top three sectors with the highest net foreign inflows were Financial Services with RM112.2 million, Utilities with RM97.3 million and Property with RM86.6 million.
“While the top three sectors with the highest net foreign outflows were Consumer Products and Services at RM39.6 million, Industrial Products and Services at RM38.0 million and Healthcare at RM21.2 million,” it said.
MIDF also said local institutions turned net sellers for the week, after disposing of RM167.1 million worth of equities and only net bought RM21.0 million on Tuesday but were net sellers for the rest of the week.
“Local retailers net sold RM100.6 million last week. This is their fourth consecutive week of net selling. Like local institutions, they only net bought on Tuesday at RM45.6 million but were net sellers for the entire week,” it said.
In terms of participation, MIDF said there was an increase in average daily trading volume among local institutions and foreign investors by 3.3 per cent and 2.5 per cent respectively while local retailers recorded a decrease of 14.6 per cent.
— Bernama
