KUALA LUMPUR (April 25): Foreign purchase of equity listed on Bursa Malaysia amounted to RM283.0 million net last week, compared to RM239.0 million the week before, according to MIDF Research.

In its weekly fund flow report today, the  MIDF Research Strategy Team said most foreign buying occurred on Friday when the amount reached RM144.9 million net.

It said the influx of foreign buying coincided with the FBM KLCI reaching a 22-month high as sentiment was boosted by a possible tax reform by Trump, to be announced this Wednesday.

“Year-to-date, the cumulative foreign net purchases amounted to RM6.91 billion, the highest among regional peers namely Thailand, Indonesia and the Philippines.
 
“Foreign participation on Bursa bounced last week but it remained at a moderate level last week. Foreign average daily trade
value (ADTV) was up by 16% to RM860.4 million,” it said.

MIDF Research said retail participation has started to taper as the ADTV declined by 20.2% to RM881.4 million, the first time it declined below the RM1 billion level in six weeks.
 
The research house said there was heavy profit taking by retail investors last week.
 
It said the amount offloaded of RM187.6 million was the highest in a week this year.