KUALA LUMPUR: Local institutional investors turned net sellers of domestic equities with RM308.0 million last week, after net buying for the past 12 weeks.
According to MIDF Research, local investors have been net buyers for 21 out of 38 weeks with total net inflow of RM3.62 billion.
Foreign investors turned net buyers with RM570.9 million after maintaining net selling for the past 12 consecutive weeks.
MIDF Research said foreign investors' interest started on Wednesday with net inflow of RM84.2 million.
The situation coincided with the release of the positive economic data which include 6.6 per cent of year-on-year (y-o-y) growth in monthly sales value for Malaysia's wholesale and retail trade sector that reached RM138.0 billion in May 2023.
"Additionally, the country's manufacturing sector saw an increase in sales value to RM146.8 billion, 3.3 per cent y-o-y in May-23," it said.
The net inflows continued on Thursday and Friday, with the highest amount recorded on Friday with RM468.9m net inflows. This was the largest net inflow since 28 February 2022, before the hiking of interest rates by the U.S. Fed.
MIDF Research said investor sentiment has been predominantly positive last week due to the recent softening of inflation in the US which displays some indication to the end of rate hikes.
The top three sectors that witnessed net foreign inflows were technology at RM115.0 million, transportation and logistics *RM102.0 million) and plantation (RM97.0 million).
The three sectors witb net foreign outflows were healthcare at RM29.7 million, real estate investment trusts (RM10.2 million) and energy (RM 7.1 million).
