Saturday 30 Mar 2024
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KUALA LUMPUR (May 8): Foreign buying of Malaysian equity on Bursa Malaysia eased to RM576.5 million last week, from RM1.45 billion a week earlier, according to MIDF Research.

In its weekly fund flow report today, the MIDF Research strategy team said net foreign buying has now extended to 13 consecutive weeks, longer than the 10-week inflow into Indonesia which was the only other Asian emerging market currently attracting sustained foreign interest.

"It was again another four-day trading week. Buying intensity was generally low to moderate and did not exceed RM300 million. We note that foreign investors remained net buyers on Thursday although the FBM KLCI declined by 0.78%, the second biggest daily drop this year.

"Foreign participation on Bursa remained at an elevated level. Foreign average daily trade value (ADTV) remained above RM1 billion at RM1.02 billion, albeit lower than that the week before," it said.

MIDF Research said the retail market remained healthy.

It said retail participation recovered further as the ADTV increased by 16% to RM1.29 billion, the second highest this year.

Moreover, it said the 10-week selling streak by retailers came to a halt after retailers purchased RM20.1 million worth of local equities.

It said that on Tuesday, the traded value hit RM1.44 billion, the highest this year.

 

 

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