KUALA LUMPUR: The US Federal Reserve's decision to maintain the interest rate while signalling for rate cuts next year sent foreign investors back into Bursa Malaysia over the previous week. Foreign investors became net buyers of domestic equities to the tune of RM143.3mil after having been net sellers in the earlier week. According to MIDF Research, the net inflow of foreign funds began on Thursday following the announcement of the Fed's dovish announcement. Meanwhile, the top three sectors with net foreign outflows were Financial Services (RM66.8mil), industrial products and services (-RM21.2mil) and Energy (RM19.2mil). In terms of participation, there were increases in average daily trading volume (ADTV) across the board - local retailers (22.7%), local institutions (31.9%), and foreign investors (62.8%).

Source: The Star December 18, 2023 07:24 UTC