KUALA LUMPUR (July 24): International investors  purchased RM76.30 million Malaysian equity last week, down from RM305.1 million net the prior week, according to MIDF Amanah Investment Bank Bhd Research.

In its weekly fund flow report today, the MIDF Research Strategy Team said Tthis was the first time the weekly inflow went below the RM100 million level time in 2017 and the lowest recorded for the year.

“Net foreign purchases were recorded in 3 out of 5 trading days. Net buying intensity was generally low and did not exceed RM150 million.

“We note that foreign buying peaked on Monday at RM110.0 million net amid bolstering optimism in Asia coming from China’s positive GDP data,” it said.

MIDF Research said despite the tapering of foreign purchases last week, the cumulative year-to-date inflow remains above the RM10 billion mark at RM10.35 billion (approximately US$2.35 billion), the highest among its South East Asian peers.

The research house said foreign participation rate was rather sluggish.

“The average daily trade value (ADTV) declined by 17% for the week, from RM893 million to RM739 million, being under RM1 billion level for the third week,” it said.

MIDF Research said that after four lacklustre weeks, retail inched higher to a moderate level.

It said retail ADTV increased by 17%, above the RM700 million level to RM778.4 million from RM665.4 million.