KUALA LUMPUR (Sept 23): For the sixth consecutive week, foreign investors have remained net buyers of Malaysian equities with an inflow of RM271.5 million last week, according to MIDF Research.

Despite a shortened trading week due to the Mawlid holiday last Monday (Sept 16), foreign investors net bought RM167.7 million last Tuesday, RM122.9 million last Thursday, and RM57.0 million last Friday, offsetting a net sell of RM76.1 million last Wednesday.

In a note on Monday (Sept 23), the research house noted that Malaysia's exports in August 2024 surpassed expectations, driven by robust demand for electronics and a significant uptick in shipments to the US and other major trading partners.

Exports grew by 12.1% year-on-year, reaching RM129.16 billion, while gross imports saw a 26.2% year-on-year increase, amounting to RM123.49 billion.

The financial services sector saw the highest net foreign inflows at RM352.2 million, followed by healthcare at RM211.9 million and property at RM55.0 million.

Conversely, the utilities sector experienced the highest net foreign outflows at RM172.3 million, with technology and consumer products and services also seeing outflows of RM85.3 million and RM49.7 million, respectively.

Local institutions also supported the market with net buying of RM38.7 million, marking their second consecutive week of net inflows.

However, local retailers net sold RM310.2 million for the second week in a row.

The average daily trading volume increased by 10.9% for local retailers, 4.9% for local institutions, and 42.9% for foreign investors, indicating heightened market activity across the board.