KUALA LUMPUR: Foreign investors stepped up their buying for a second consecutive week, recording RM612.3mil in net inflows, eight times higher than the previous week's, according to MBSB Research.
The research house noted that foreign institutional investors were net buyers on four of the five trading days during the week.
The strongest inflows were recorded on Thursday at RM238.7mil. This was followed by Tuesday with RM174.1mil, Wednesday with RM140.8mil and Friday with RM92.1mil.
Monday was the only trading day to register net outflows, amounting to RM33.4mil.
“The top three sectors that recorded net inflows from foreign institutions were financial services (RM754.1mil), utilities (RM194.9mil), and Plantation (RM66.9mil),” MBSB said in its weekly fund flow report.
Meanwhile, the largest net outflows were recorded in the industrial products & services sector at RM256mil, followed by technology with RM98.5mil and consumer products & services with RM64.3mil.
Local institutions extended their net selling streak to a second consecutive week, recording net outflows of RM305.9mil.
Retail investors also turned net sellers after a week of net buying, posting net outflows of RM306.4mil.
Average daily trading volume (ADTV) increased across all investor groups, with foreign institutions recording the biggest gain at 40.8%, followed by retailers at 34.3% and local institutions at 25.8%.
