Local Institutions, Retailers Extend Net Buying On Bursa Malaysia

KUALA LUMPUR, June 3 (Bernama) -- Local institutions and retailers extended their net buying streaks on Bursa Malaysia last week, with institutions recording a sixth consecutive week of net inflows and retailers posting a third straight week, amounting to RM2.12 billion and RM410.6 million, respectively.

MBSB Investment Bank Bhd weekly fund flow report for the week ended May 29, said that foreign institutions extended their three-week consecutive streak of net selling, recording RM2.53 billion in net outflows.

Foreign institutions were net sellers on four out of four trading days during the week, with the largest outflow recorded on Friday (RM1.63 billion), followed by Thursday (RM397.3 million), Tuesday (RM371.9 million), and Monday (RM128.8 million).

The only three sectors that recorded net inflows from foreign institutions were technology (RM64.0 million), industrial products and services (RM40.7 million), and transportation and logistics (RM19.5 million).

Meanwhile, the top three sectors that recorded net outflows from foreign institutions were consumer products and services (RM881.9 million), financial services (RM662.3 million), and utilities (RM541.6 million).

The average daily trading volume (ADTV) saw a broad-based increase: retailers by -1.0 per cent, local institutions by +20.0 per cent, while foreign institutions saw an increase of +171.1 per cent.

Across eight Asian markets, foreigners ended a two-week consecutive streak of net selling, with net foreign inflows totalling US$666.3 million.

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

-- BERNAMA