KUALA LUMPUR (May 22): MIDF Research said foreign funds purchased RM192.4 million Malaysian equity last week, the lowest in 11 weeks of buying.
In its weekly fund flow report today, the MIDF Research Strategy Team said the buying streak by foreign investors have now stretched for 15 straight weeks, edging closer towards the 24-week buying spree which started in December 2012 and ended in May 2013.
“Nevertheless, the foreign liquidity flow turned erratic, as foreign investors turned net sellers in two out of the five trading days.
“On Wednesday, the 26-day buying streak was snapped as foreigners offloaded RM51.1 million net,” it said.
The research house said foreigners continued to reduce their position on Thursday, but returned promisingly on Friday.
It said despite lower foreign net add, participation remained elevated.
“Foreign average daily trade value (ADTV) jumped 27% to RM1.26 billion, the third highest this year.
“Retailers took advantage of the market consolidation as they turned net buyers, albeit modestly at RM38.5 million,” it said.
MIDF Research said the retail market remained healthy as participation rate stayed above RM1 billion at RM1.39 billion, 17.8% higher than that the week before.
It said this was the tenth week this year that retail participation has exceeded the RM1 billion mark.