Bursa Malaysia saw net foreign inflows increase significantly last week, to RM550.9 million from RM235.1 million the previous week.
MIDF Research reported in its weekly fund flow report that it was the highest amount recorded in the past eight weeks.
Reportedly, purchases took place every day last week exceeding RM100 million, except on Thursday (September 21) which was after the United States Federal Reserve (Fed) meeting which moderated to RM48.7 million.
The three sectors that recorded the highest foreign net inflows were utilities at RM197 million, transport and logistics at RM110.1 million and consumer products and services at RM72.8 million.
While the three sectors that saw net foreign outflows were industrial products and services amounting to RM38.6 million, healthcare RM37.5 million and telecommunications and media amounting to RM8.4 million.
In the meantime, local institutions contributed to net sales last week at RM472.5 million, the highest since last year in the week ending 10 August 2022 with net sales of RM675.9 million.
Meanwhile, local retailers continued to record net sales for the 11th consecutive week after selling RM78.4 million last week.
Global market sentiment was seen as slightly gloomy with US stocks falling last week after the Fed signaled it would extend interest rate hikes.
Even so, it did not stop foreign investors' buying interest in local stocks that pushed net foreign inflows to jump last week.
