In its fund flow report for the week ended Aug 30, 2024, MIDF said foreign investors net bought every day last week, marking the highest weekly net buying amount so far this year and the highest since the week ended March 18, 2016.

The top three sectors were financial services RM1.3 billion, utilities (RM259.7 million), and construction (RM88.7 million).

“They net sold in technology (-RM60.4 million), transportation and logistics (-RM57.2 million) and industrial products and services (-RM41 million),” it said.

Meanwhile, local institutions net sold (-RM1.26 billion) last week, the highest since the week ended March 4, 2022.

MIDF said they net bought RM13.9 million on Monday, but net sold from Tuesday to Friday.

Similarly, local retailers net sold for the second consecutive week at (-RM245.4 million).

They only net bought RM26.3 million on Thursday.

The average daily trading volume saw an increase of +49.9% among foreign investors while local institutions and local retailers saw declines of –0.4% and –2.8%, respectively.