Local Institutions Extend Net Buying Streak To Six Weeks On Bursa Malaysia

KUALA LUMPUR, May 25 (Bernama) -- Local institutions extended their net buying streak on Bursa Malaysia to a sixth consecutive week, recording net inflows of RM572.9 million last week, according to MBSB Investment Bank Bhd.

The investment bank said retailers also extended their net buying streak to two consecutive weeks, with inflows of RM339.7 million.

Foreign institutions, meanwhile, extended their net selling streak to two consecutive weeks, posting net outflows of RM912.6 million.

The bank said foreign institutions were net sellers on all five trading days during the week.

“The largest outflow was recorded on Wednesday at RM329.2 million, followed by Tuesday (RM256.5 million), Thursday (RM156.5 million), Monday (RM106.3 million) and Friday (RM64.2 million),” it said.

It added that foreign inflows were recorded only in three sectors: technology (RM79.2 million), transportation and logistics (RM57.0 million), and energy (RM1.3 million).

Meanwhile, the top three sectors for foreign outflows were consumer products and services (RM347.4 million), utilities (RM214.7 million), and healthcare (RM180.7 million).

Across eight Asian markets, foreign investors extended their net selling streak to two consecutive weeks, with outflows totalling US$9.59 billion.

“The only market to record net foreign inflows was Taiwan, while outflows were led by South Korea, followed by India, Vietnam, Malaysia, Thailand, Indonesia and the Philippines,” it said.

-- BERNAMA