KUALA LUMPUR: 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 Wednesday and Thursday, with daily outflows ranging between RM21.0 million and RM136.5 million.
"The largest outflow was recorded on Friday, followed by Monday with RM52.3 million and Tuesday with RM21.0 million. 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 (ADTV) fell across the board last week, with declines of 5.5 per cent for foreign investors, 2.1 per cent for local retailers, and 0.8 per cent for local institutions. - Bernama
