Local Institutions Extend Buying Streak For Fourth Week - MBSB Investment

KUALA LUMPUR, Aug 25 (Bernama) -- Local institutions extended their net buying streak on Bursa Malaysia for the fourth consecutive week last week, registering purchases of RM391.8 million, according to MBSB Investment Bank Bhd (MBSB IB).

In its weekly Fund Flow Report, the investment bank said, however, local retailers extended their net selling streak to two consecutive weeks, posting a net outflow of RM77.3 million.

MBSB IB noted that foreign investors extended their net selling streak to seven consecutive weeks, registering a net outflow of RM314.4 million.

“Foreign investors were net sellers throughout the week, except on Friday. Outflows ranged from RM54.6 million to RM209.4 million, with the largest recorded on Wednesday, followed by Monday (RM152.9 million) and Tuesday (RM74.8 million),” it said.

It said Thursday saw the smallest outflow of RM54.6 million, while Friday stood out with net inflows of RM177.2 million.

According to MBSB IB, the top three sectors that recorded net foreign inflows last week were industrial products and services (RM136.7 million), construction (RM133.0 million) and plantation (RM56.8 million).

Meanwhile, it said the top three sectors with the highest net foreign outflows were telecommunication and media (RM154.2 million), consumer products and services (RM145.2 million), and financial services (RM119.8 million).

The investment bank said the average daily trading volume recorded a broad-based increase last week, with foreign investors and local institutions posting gains of 10.0 per cent and 14.5 per cent, respectively, while retail investors registered a more modest rise of 8.6 per cent.

-- BERNAMA