Foreign investors extend buying streak on Bursa with RM423mil inflows
The three sectors with the highest net foreign inflows were utilities, telecommunications and media, and financial services. (Envato Elements pic)
KUALA LUMPUR : Foreign investors extended their streak of net inflows on Bursa Malaysia for the third week, recording a net inflow of RM422.6 million last week, though lower than the previous week of RM853.3 million.
According to MIDF Amanah Investment Bank Bhd's fund flow report for the week ended May 9, foreign investors were net buyers on every trading day, except Monday and Thursday, which saw outflows of RM92.4 million and RM42.4 million, respectively.
It said the highest net inflow was recorded on Wednesday at RM364.8 million, followed by Friday with RM135.1 million.
'The three sectors that recorded the highest net foreign inflows were utilities (RM253.3 million), telecommunications and media (RM53.3 million), and financial services (RM51.1 million).
'The only two sectors that recorded net foreign outflows were energy (RM57.5 million) and technology (RM56 million),' it said.
Meanwhile, MIDF stated that the local institutions extended their streak of net selling to three consecutive weeks, with outflows amounting to RM397.8 million.
It said the local retail investors extended their trend of net selling to the fourth week, though the outflow eased to RM24.8 million compared to RM161.2 million the week before.
'The average daily trading volume saw a broad-based increase last week, with local institutions and local retailers seeing an increase of 8.6% and 2.9%, respectively, while foreign investors saw an increase of 6.1%,' it said.
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