PETALING JAYA – Foreign buying momentum continued for the fourth week running on Bursa Malaysia, but the intensity eased last week with foreigners only buying RM121.1 million worth of shares compared with the RM198 million a week before, according to MIDF Research.
Nonetheless, the research house noted that February was a surplus month as foreigners mopped up a net of RM955.5 million, which was more than double the RM418.8 million net inflow in January.
For the month of March, MIDF Research said it started on an auspicious note with a net foreign aggregate inflow for the first three days amounted to RM49.5 million.
“There was heavy buying recorded on Thursday with a net inflow that exceeded RM200 million for the third time this year,” it noted.
MIDF Research said in contrast, regional peers such as Thailand and Philippines experienced foreign net outflow last week.
It also highlighted that foreign participation rate surged by 46% to an elevated level of RM1.2 billion last week, the second time the foreign average daily trade value (ADTV) breached the RM1 billion mark.
The retail market, meanwhile, remained relatively healthy although retailers were net sellers to the tune of RM154 million last week.
“Retail participation is relatively high as the weekly ADTV rose near to the RM1 billion mark. It was the highest ADTV so far this year,” it added.