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Plantations, Technology, Telco Sectors Attract RM246.6 Mln Inflows Last Week

KUALA LUMPUR, Nov 3 (Bernama) -- The plantation, technology and telecommunication sectors topped the list of sectors with net inflows last week, each sector raking in RM151.2 million, RM89.7 million and RM5.7 million, respectively.

Meanwhile, the top three sectors that recorded net foreign outflows were financial services (-RM513.7 million), healthcare (-RM192.8 million), and utilities (-RM162.6 million).

In its fund flow report for the week ended Oct 31, MBSB Investment Bank Bhd (MBSB) said that local institutions extended their net purchases to the fourth consecutive week, recording inflows of RM812.7 million.

“At the same time, local retailers ended their seventh consecutive week of net selling, posting a net inflow of RM72.0 million.

“The average daily trading volume (ADTV) experienced a broad-based increase last week, with local retailers and local institutions recording increases of 1.0 per cent and 15.4 per cent respectively, while foreign investors saw an increase of 6.1 per cent,” it said in its report today.

MBSB also said that net selling by foreign investors extended to the fourth consecutive week, posting a net outflow of RM884.6 million, significantly higher than the previous week’s net outflow of RM14.6 million.

Foreign investors were net sellers on all five trading days last week, with Monday seeing the highest net selling activity at RM244.0 million.

Regionally, foreign investors ended their two-week consecutive streak of net selling, recording US$915.2 million in net foreign inflows.

Among the markets tracked by MBSB, only India, South Korea, and Indonesia registered net foreign inflows, while the rest recorded net outflows, led by Taiwan, which posted the largest outflow in the region.

India extended a four-week consecutive streak of net foreign purchases, recording the region’s highest net foreign inflows at US$826.2 million.

Additionally, Indonesia saw its fourth consecutive week of net buying with foreign purchases of US$333.5 million, after the country introduced new rules allowing the central government to lend to local authorities and state-owned enterprises to finance development projects.

-- BERNAMA