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

MBSB Investment Bank Bhd's (MBSB IB) 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 all four trading days during the week, with the largest outflow recorded last Friday (RM1.63 billion), followed by last 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%, local institutions by +20.0%, while foreign institutions saw an increase of +171.1%.

Across eight Asian markets, foreigners ended a two-week consecutive streak of net selling, with net foreign inflows totalling US$666.3 million (RM2.65 billion).

“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.

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