Local Institutions Extend Buying Streak With RM280.7 Mln Net Purchases -- MBSB IB

KUALA LUMPUR, Nov 10 (Bernama) -- Local institutions extended to a five-week consecutive streak of net purchases, recording inflows of RM280.7 million last week.

In its fund flow report for the week ended Nov 7, MBSB Investment Bank Bhd (MBSB) said local retailers, however, reversed a single week of net inflows, reverting to net selling at RM195.2 million.

Foreign investors, meanwhile, lengthened their selling streak to five weeks, posting a net outflow of RM85.4 million.

“Foreign investors were net sellers on three out of five trading days last week, with Monday seeing the highest net selling activity at RM158.8 million, followed by Thursday (RM129.4 million), and Friday (RM45.4 million),” it said.

MBSB said inflows were recorded on Wednesday (RM138.4 million), and Tuesday (RM109.8 million).

It said the top three sectors that recorded net foreign inflows last week were plantation (RM138.4 million), consumer products and services (RM137.1 million), and healthcare (RM80.2 million).

The top three sectors that recorded net foreign outflows were utilities ( RM134.3 million), telecommunications and Media (RM91.4 million), and technology (RM83.4 million).

Average daily trading volume experienced a broad-based decrease last week.

Local retailers and local institutions recorded decreases of 6.4 per cent and 15.2 per cent, respectively, while foreign investors saw an increase of 3.2 per cent, the bank said.

-- BERNAMA