KUALA LUMPUR (July 28): MBSB Investment Bank Bhd (MBSB IB) said local retailers extended their net buying streak for a third consecutive week, with a net inflow of RM105.4 million for the week ended July 25.

Meanwhile, foreign investors continued their net selling for a third straight week, posting a smaller net outflow of RM89.9 million compared with RM206.1 million in the previous week.

Foreign funds were net sellers on all trading days except last Wednesday (July 23) and Thursday, with daily outflows ranging between RM21.0 million and RM136.5 million.

“The largest outflow was recorded last Friday, followed by last Monday with RM52.3 million and last Tuesday with RM21.0 million. Last Wednesday and Thursday saw net inflows of RM97.3 million and RM22.6 million, respectively,” MBSB IB said in its weekly fund flow report.

The top three sectors that recorded the highest net foreign inflows were transportation and logistics (RM158.7 million), utilities (RM69.5 million), and construction (RM51.4 million).

Conversely, the financial services sector saw the largest net foreign outflow (RM174.1 million), followed by technology (RM80.8 million) and telecommunications and media (RM70.8 million).

MBSB IB also reported that local institutions extended their net selling streak to two weeks, with a net outflow of RM15.5 million, compared with RM33.3 million in the prior week.

The investment bank added that the average daily trading volume fell across the board last week, with declines of 5.5% for foreign investors, 2.1% for local retailers, and 0.8% for local institutions.

Uploaded by Chng Shear Lane