KUALA LUMPUR, July 22 (Bernama) -- Foreign investors continued their buying spree on Bursa Malaysia, purchasing RM740.8 million net last week, an increase of 54.9 per cent compared to the previous week, according to MIDF Amanah Investment Bank Bhd (MIDF).
The investment bank noted that foreign investors have been net buyers for 15 consecutive trading days.
"They net bought RM326.6 million on Monday, RM64.0 million on Tuesday, RM235.9 million on Wednesday, RM21.3 million on Thursday and RM93.1 million on Friday," it said in a note today.
MIDF reported that the top three sectors where foreign investors net bought were financial services (RM593.1 million), utilities (RM137.5 million) and property (RM128.7 million).
Local institutions continued to be net sellers for the second consecutive week, disposing of RM546.7 million.
"They net sold every day last week and have been net sellers for seven consecutive trading days," the bank said.
MIDF added that local retailers also maintained their net selling stance for the third straight week, with net sales of RM194.2 million last week.
"Last week, the average daily trading volume (ADTV) declined among foreign investors and local institutions by 9.0 per cent and 3.0 per cent, respectively.
"Meanwhile, local retailers recorded an increase of 2.1 per cent," MIDF said.
-- BERNAMA
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