KUALA LUMPUR (July 31): The net amount purchased by foreign investors rose to RM309.4 million net, four times higher than that in the preceding week, according to MIDF Amanah Investment Bank Bhd Research.

In its weekly fund flow report today, the MIDF Research Strategy team said net foreign purchases were recorded every day throughout the week.

“Quietly, foreign investors have been net buyers for six straight days, the longest streak since April 20-May 16.

“We note that the foreign buying peaked on Monday at RM125.3 million which saw the KLCI closing above 1,760 points for the first time in two weeks,” it said.

The research team said with one more trading day left, July looks set to be the seventh consecutive month of foreign buying.

It said as of July 28, cumulative foreign inflow had amounted to RM485.3 million net for the month, which was already higher than June’s figures.

MIDF Research said foreign participation rate was fairly healthy.

It said foreign average daily trade value (ADTV) rose 11% from RM739 million in the prior week to RM818 million, hovering under RM1 billion level for the fourth week running.

The research house said retail participation was still tepid, adding that retail ADTV decreased by 17%, retreating to a level below RM700 million at RM648.5 million.