Which Malaysian stocks were favored last week after 8 weeks of net outflows of foreign capital?

Foreign investors bought Malaysian stocks net of RM292.2 million last week, ending an eight-week net outflow trend.

According to the capital flow report released by MIDF Research on Monday, the continued conflict in the Middle East may cause oil prices to rise, but the World Bank still maintains Malaysia's 4.3% economic growth forecast in 2024 and predicts that Malaysia's gross domestic product (GDP) this year will be driven by private consumption.

Last week, the sectors most favored by foreign investors were utilities (RM285.8 million), financial services (RM153 million), and communications and media (RM103 million).

The sectors that have been sold off by foreign investors are consumer goods and services (RM223.2 million), farming (-68.5 million ringgit), and energy (RM31.6 million).

Meanwhile, local institutions acted as buyers for 9 consecutive weeks, buying a net RM143.3 million shares last week.

In addition, retail investors were net selling Malaysian stocks for the 7th week in a row, totaling RM405.5 million.

In terms of participation, the average daily turnover of retail investors and foreign investors declined by 10.9% and 15.5%, respectively; local institutions increased slightly by 0.2%.

Top 10 stocks with net inflows of foreign capital last week