KUALA LUMPUR (May 2): Foreigners' net purchase of Bursa Malaysia-listed shares rose to RM1.45 billion during the week ended last Friday (April 28) from RM283 million a week earlier as the ringgit strengthened, according to MIDF Amanah Investment Bank Bhd.

MIDF said in its fund flow report today that for the week ended last Friday, foreigners bought and sold RM3.4 billion and RM1.95 billion worth of Malaysian shares respectively. MIDF said the share trades excluded off-market deals.

"Foreign participation on Bursa bounced strongly last week to an elevated level. Foreign average daily trade value (ADTV) was up by 56% to RM1.34 billion. Indeed, the foreign daily trade value was above RM1 billion for every single day of the week.

"The ringgit was equally hot by closing at USD/RM4.3410, 1.32% higher than the week before, extending its third week of gains. The ringgit's strength is partially attributable to the sentiment that shifted to the ringgit after Bank Negara Malaysia's (BNM) timely move to increase liberalisation in the foreign exchange markets," MIDF said.