Local Institutions Support Bursa Malaysia For 14th Week

KUALA LUMPUR, Jan 27 (Bernama) -- Local institutions extended their support for Bursa Malaysia for the 14th consecutive week, recording net purchases of RM551.6 million, according to MIDF Amanah Investment Bank Bhd (MIDF).

This was lower than the previous week’s net purchases of RM797.8 million.  

In its Fund Flow Report for the week ended Jan 24, MIDF said local institutions maintained net buying for 46 consecutive trading days.  

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Local retail investors also sustained their buying streak on Bursa Malaysia for the third straight week, though with a smaller net purchase of RM149.9 million in equities.  

“The average daily trading volume (ADTV) declined across the board last week. Foreign investors saw a drop of 13.6 per cent, while local institutions and retail investors recorded declines of 8.7 per cent and 5.5 per cent, respectively,” it said.  

MIDF noted that foreign investors continued to sell equities on the local bourse for the 14th consecutive week, though outflows eased to RM701.4 million compared to RM1.33 billion the previous week.  

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Foreign investors were net sellers every trading day, with the largest outflow of RM300.5 million on Friday. Daily outflows ranged from RM23.2 million to RM169 million.  

“The top three sectors with net foreign inflows were financial services (RM33.8 million), telecommunication and media (RM8.9 million), and real estate investment trusts (RM4.6 million).  

“Conversely, the top three sectors with the highest net foreign outflows were utilities (RM222.4 million), construction (RM162 million) and property (RM112.9 million),” it added. 

-- BERNAMA