KUALA LUMPUR (July 17): Foreign investors acquired RM305.1 million Malaysian equity net last week, the highest since the week ended May 12, according to MIDF Amanah Investment Bank Bhd Research.

In its weekly fund flow report today, the MIDF Research Strategy team said this was higher than that reported by the exchanges in Thailand, Indonesia and Philippines.

"Foreign investors were net buyers in 3 out of 5 trading days. The heaviest foreign buying during the week was recorded on Thursday with net acquisitions reaching RM166.9 million net, the highest in a day since June 23.

"The catalyst for foreign buying on Thursday was the overnight gains on Wall Street following Fed Chair Yellen's cautious tone on the US monetary policy," it said.

The research house said last week's foreign buying lifted the cumulative year-to-date inflow to above the RM10 billion mark, to RM10.27 billion.

It said foreign participation rate rebounded to an elevated level last week.

MIDF Research said the average daily trade value (ADTV) increased by 41% for the week, from RM792.2 million to RM1.12 billion.

It said after three lacklustre weeks, retail participation rebounded to a healthy level.

It said retail ADTV surged 29% to RM831.7 million after three consecutive weeks of being under RM650 million.