The research house said international investors acquired RM872.7mil net of local equities last week, higher than RM702.2mil net bought in the week before.
“Last week, foreign investors were net buyers on all five trading days. Foreign buying peaked on Tuesday, as foreign investors pumped in RM254.4mil net of funds, the highest acquisition in a day since Jan 8, 2018.
“We ascribe the intense buying
on Tuesday to the strengthening of the ringgit to a 64-week high of RM3.927 and
firmer oil prices,” MIDF said in its weekly fund flow report.
However on Wednesday, there was
a big dip in buying activity as the net inflow retreated to RM93.7mil, the
lowest in a day since Jan 17, 2017.
On this day, a similar trend
was seen in the other emerging southeast Asian market such as Thailand.
While similar pattern was seen in Indonesia and the Philippine as well, the streams of inflows into both markets were snapped on Wednesday, with Indonesia experiencing the biggest outflow of US$23.64mil.
On Friday, the FBM KLCI continued its ascent to end the week at 1,853.92 points, due to steady oil prices and improved confidence in the economy following Bank Negara’s rate hike.
The ringgit, meanwhile,
strengthened by 1.75% against the greenback to settle at 3.871.
MIDF said foreign participation remained vibrant as the foreign average daily trade value (ADTV) stood at above RM1bil market at RM1.13bil.
On the other hand, the retail market had a 20.5% decline in ADTV, but still remained healthy above the RM1bil mark at RM1.4bil.
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