Local investors extend buying streak on Bursa Malaysia

KUALA LUMPUR: Local institutions continued their net buying streak on Bursa Malaysia for six consecutive weeks, with net inflows totalling RM572.9 million, according to MBSB Investment Bank Bhd (MBSB Research).

In its fund flow report for the week ended May 22, retailers extended their net buying streak to two consecutive weeks, recording net inflows of RM339.7 million.

Meanwhile, foreign institutions extended their net selling streak to two consecutive weeks, with net outflows of RM912.6 million on Bursa Malaysia.

“Foreign institutions were net sellers on five out of five trading days during the week. The largest outflow was recorded on Wednesday (RM329.2 million), followed by Tuesday (RM256.5 million), Thursday (RM156.5 million), Monday (RM106.3 million), and Friday (RM64.2 million),” it said.

The firm said the only three sectors that recorded net foreign inflows were technology at RM79.2 million, transportation and logistics at RM57.0 million, and energy at RM1.3 million.

Meanwhile, the top three sectors that recorded net foreign outflows were consumer products and services at RM347.4 million, utilities at RM214.7 million, and healthcare at RM180.7 million.

MBSB Research said average daily trading volume increased across all investor classes, with retailers rising 0.7 per cent, local institutions up 5.5 per cent, and foreign institutions gaining 7.3 per cent.

On Asian markets, it said foreigners extended their net selling streak to two consecutive weeks across the eight markets it tracks, with total net outflows of US$9.59 billion.

It added that Taiwan was the only market to record net foreign inflows, while outflows were led by South Korea, followed by India, Vietnam, Malaysia, Thailand, Indonesia, and the Philippines.

© New Straits Times Press (M) Bhd

المصدر: New Straits Times