Additionally, the latest weekly Fund Flow Report indicated that net buying activity in the local market had moderated from the previous week’s RM961.1 million.

The research firm attributed the sustained interest in the domestic market to economic optimism following a 4.2% year-on-year rise in gross domestic product (GDP) for the first quarter of 2024 (Q1 2024).

“This exceeded both the 3.9% growth forecast by a Reuters poll and the advance estimates released by the government,” it added.

The report highlighted that foreign funds were net buyers in Malaysia throughout the week, with the highest net inflow of RM299.98 million occurring on Wednesday.

“This marked the beginning of strong net buying by foreign funds, with subsequent days seeing net inflows exceeding RM100 million each day. Thursday recorded RM269.2 million, while Friday saw RM184.3 million,” it said.

The sectors with the highest net foreign inflows were transportation and logistics at RM223.6 million, utilities at RM189.1 million, and healthcare at RM183.3 million.

The only sectors with net foreign outflows were plantation at (-RM64.7 million) and construction at (-RM6.7 million).

Meanwhile, local institutions continued their net selling streak for the third consecutive week, totalling (-RM379.7 million), while local retailers’ net selling extended into the tenth week, amounting to (-RM494.1 million).

In terms of participation, the average daily trading volume increased for local retailers (+27.1%), local institutions (+18%), and foreign investors (+8.5%).