KUALA LUMPUR: Foreign investors turned net buyers of Malaysia's equity market for the week ended Feb 11 with a net inflow of RM749.34 million, MIDF Research said.
The firm said this was influenced by the upbeat Malaysia's economic data including Malaysia's Industrial Production Index (IPI), distributive trade sales and gross domestic product (GDP) growth of 3.6 per cent in the fourth quarter (Q4) of 2021.
So far in 2022, international funds had been net buyers on Bursa Malaysia for four out of six weeks, MIDF Research said in its weekly fund flow report today.
"We noted that last week net buying by foreign investors was also the highest for the year.
"The previous highest net buying by foreigners was in the second week of January (week ending Jan 14) with RM397.85 million," it added.
MIDF Research said foreigners were net buyers everyday of the week.
The largest foreign inflow was recorded on Wednesday at RM279.64 million and the smallest inflow was on Monday at only RM21.82 million.
The pace of foreign investor buying continued to be robust on Thursday and Friday, with net inflows amounting to RM228.44 million and RM165.36 million respectively.
MIDF Research said local institutions were active sellers last week.
The largest net outflow was on Wednesday and smallest on Monday, to the tune of RM261.35 million and RM32.37 million respectively.
As for the retailers, the market saw them as net sellers everyday of the week except on Monday (RM10.55 million).
The largest net selling was recorded on Thursday at RM64.83 million while the smallest net selling was on Tuesday at RM8.44 million.
Overall, for the sixth week of 2022, foreign investors finished strong as net buyers at RM749.34 million.
"On a year-to-date basis, we have observed RM1.052 billion in net inflows from foreign investors," it added.
MIDF Research said retailers net buying was marginal at RM0.98 million, and local institutions were net sellers with RM1.05 billion.