KUALA LUMPUR: Foreign investors continued their buying streak on Bursa Malaysia for the third consecutive week, and snapped up RM172.4 million worth of equities last week.
MIDF Research said this showed a significantly moderated rate compared to the previous week's RM676.7 million.
The firm said Wednesday recorded the highest daily foreign inflow at RM191.9 million.
"On this day, stocks with the highest net buy amounts were Genting Bhd (RM23.9 million), PPB Group Bhd (RM19.7 million), and YTL Power International Bhd (RM14.9 million)," it said in a note.
MIDF said the other net inflow day was on Thursday, when RM43.7 million flowed in.
However, the research house saw a reversal on Friday which saw net outflow of RM58.2 million.
"The top three sectors with the highest net foreign inflows were utilities (RM115.2 million), healthcare (RM63.5 million), and transportation & logistics (RM51.9 million).
"Meanwhile, the top three sectors with the highest net foreign outflows were industrial products & services (RM41.6 million), consumer products & services (RM31.0 million) and technology (RM30.8 million)," it said.
On local institutions, MIDF said it registered net sales of RM95.6 million last week, marking the third consecutive week of net selling.
Each trading day of the week saw net selling, except on Friday when Bank Negara Malaysia reported that Malaysia's gross domestic product (GDP) grew by 3.3 per cent year on year (yoy) in the third quarter (Q3) 2023, it said.
On the other hand, MIDF said local retailers continued their net selling streak for the sixth consecutive week, with net sales amounting to RM76.8 million.
It said only Tuesday and Friday recorded inflows of RM22.8 million and RM3.2 million respectively.
"In terms of participation, there were increases in average daily trading volume (ADTV) among local retailers by 3.6 per cent and foreign investors by 3.3 per cent, but a decline among the local institutions by 7.4 per cent," it added.