KUALA LUMPUR: There was an inflow of foreign investment on every day of the past week, bringing cumulative net offshore buying of Malaysian equity to RM191.3mil.
MIDF Research reported that foreigners were net buyers on every day of the week ended July 22, 2022, snapping six straight weeks of net outflow.
Foreign investors flocked into the country's financial services, technology and utilities sectors over the week amid an improved outlook on the global economy.
The Dow Jones recouped nearly 2% while the Nasdaq jumped over 3% over the five-day trading week.
The return of foreign investors also ended the buying streak of local retailers, which recorded a net negative tally of RM104.2mil.,
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"They were net selling every day last week except on Tuesday when they net bought RM4.2mil.
"Friday saw the heaviest net outflow from the retailers at RM58.8mil," said MIDF.
Local institutions meanwhile remained net sellers with RM87mil of new equities sold.
In terms of participation, there was an increase in average daily trade value (ADTV) among all investor classes. Retail investors saw growth in
ADTV of 40.8%, while institutional and foreign investors saw growth of 47.0% and 42.4% respectively.