Local institutions maintain third consecutive week of net buying, investing RM575.8 mln

KUALA LUMPUR: Local institutions continued their net buying of Malaysian equities on Bursa Malaysia for the third consecutive week at RM575.8 million last week, according to MIDF research.

In its latest weekly Fund Flow Report, the research house said local institutions were net sellers at RM24 million on Tuesday but were net buyers for the entire week.

“(However) local retailers shifted their stance to net selling at RM160.7 million, after briefly net buying for two weeks.

They net sold every day last week and had been net sellers for seven consecutive trading days.

“Foreign investors maintained their selling momentum on Bursa Malaysia for the third consecutive week, where they net sold RM415.1 million worth of equities, moderating from minus RM1.51 billion the week before.

They only net bought RM46.5 million on Tuesday but were net sellers for the rest of the week,” it noted.

MIDF said that the sectors with the highest net foreign inflows were property (RM81.1 million), construction (RM37.1 million), and transportation and logistics (RM17.7 million).

The sectors that recorded the highest net foreign outflows were financial services (RM186 million), plantation (RM115.7 million), and energy (RM59.6 million).

In terms of participation, the research house said that the average daily trading volume (ADTV) rose across all investor classes.

Local retailers saw an increase of 13.9 per cent while local institutions and foreign investors saw increases of 11.2 per cent and 30.1 per cent, respectively.