KUALA LUMPUR (Oct 12): Local institutions extended their net buying on Bursa Malaysia to three consecutive weeks, recording net inflows of RM99.9 million last week, according to MBSB Investment Bank Bhd (MBSB IB).

The investment bank said retailers also extended their net buying streak, marking the seventh consecutive week of net inflows with RM258.2 million.

On the other hand, foreign institutions were net sellers for the third straight week, recording RM358.1 million in net outflows during the week, MBSB IB said in its weekly fund flow report for the week ended Oct 9.

“Foreign institutions were net sellers on all five trading days, with the highest outflow recorded on Thursday at RM194.7 million, followed by Monday at RM79.6 million, Wednesday at RM63.4 million, Friday at RM14.0 million and Tuesday at RM6.4 million,” it said. 

The top three sectors that recorded net inflows from foreign institutions were technology at RM240.0 million, industrial products and services at RM102.0 million, and transportation and logistics at RM74.0 million.

Meanwhile, the top three sectors that recorded net foreign outflows were financial services at RM532.2 million, utilities at RM162.9 million and plantation at RM116.2 million, it said. 

MBSB IB added that total average daily trading volume (ADTV) saw a broad-based increase, with that of retail investors up by 9.7%, foreign institutions up 1.4%, and local institutions up by 14.4%.

Meanwhile, MBSB IB  said across the eight Asian markets that it monitors, foreign investors also extended their net selling streak to two consecutive weeks, with total net foreign outflows amounting to US$10.31 billion.

South Korea recorded the largest net outflow, followed by India, Taiwan, Vietnam, Thailand, Indonesia, Malaysia and the Philippines.

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