MIDF Research said last Monday saw net foreign inflows at RM83 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%) and retail investors (-1.2%), but an increase among local institutional investors (+3.3%).

Meanwhile, local institutional investors remained as net buyers on Bursa last week, snapping up RM200.9 million worth of equities and marking their sixth consecutive week of net buying, according to MIDF.

In its fund flow report for the week ended July 7, 2023, the research firm said last Friday witnessed the highest weekly investment inflow from local institutional investors at RM160.6 million after Bank Negara Malaysia (BNM) announced its decision to maintain the overnight policy rate (OPR) at 3%.

“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, with RM53.2 million of domestic equities net bought 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.