KUALA LUMPUR: Foreign institutions extended their net selling on Bursa Malaysia to a fourth consecutive week, recording net outflows of RM1.05bil, according to MBSB Research.
In its weekly fund flow report, MBSB said foreign institutions were net sellers on all three trading days during the holiday-shortened week, which was affected by the official birthday of His Majesty the King and the Wesak Day holidays.
“The largest outflow was recorded on Wednesday at RM454.3mil, followed by Thursday at RM367.4mil and Friday at RM225.8mil,” it said.
The only three sectors that recorded net inflows from foreign institutions were energy, which saw RM18.1mil in inflows, followed by transportation and logistics with RM12.9mil and technology with RM8.8mil.
Meanwhile, the top three sectors that recorded net outflows from foreign institutions were financial services, which saw outflows of RM312.5mil, followed by utilities with RM125.0mil and consumer products and services with RM121.8mil.
“Local institutions extended their net buying streak to eight consecutive weeks, recording net inflows of RM773.6mil.
“Meanwhile, retailers extended their net buying streak to four consecutive weeks, recording net inflows of RM274.0mil,” MBSB said.
The average daily trading volume (ADTV) declined across all investor groups, with foreign institutions recording the largest drop at 46.4%, followed by local institutions at 21.7% and retailers at 6.1%.
