Highest One Year, Foreign Investors Keep Buying Local Stocks!

<p>&nbsp;The inflow of foreign investors continued for the week as net purchases increased to RM637.8 million last week.</p><p><br /></p><p>MIDF Research reported in its weekly fund flow report that it was the highest amount recorded a year ago in the third week of March 2022 amounting to RM1.18 billion.</p><p><br /></p><p>According to the research firm, foreign net inflows from Tuesday to Friday (July 25-28) exceeded RM100 million per day, which averaged RM164.1 million per day.</p><p><br /></p><p>The highest inflow was on Friday with RM181.4 million, while Monday (July 24) saw net sales of RM18.6 million.</p><p><br /></p><p><br /></p><p>The three sectors that recorded foreign net inflows were utilities of RM253.4 million, plantations of RM127.8 million and financial services of RM86.3 million.</p><p><br /></p><p>While the three sectors that saw net foreign outflows were real estate investment trusts (REITs) of RM22.6 million, industrial products and services at RM22.4 million and telecommunications and media at RM8 million.</p><p><br /></p><p>Meanwhile, local institutions and retailers were net sellers for the third consecutive week.</p><p><br /></p><p>Global market sentiment was positive last week following the announcement of additional policy support by China and expectations that the Federal Reserve (Fed) will no longer see the US economy suffer a recession this year.</p>