Local Institutions Support Bursa Malaysia For 15th Week - MIDF

KUALA LUMPUR, Feb 3 (Bernama) -- Local institutions extended their support for Bursa Malaysia for the 15th consecutive week, recording net purchases of RM149.4 million, MIDF Amanah Investment Bank Bhd (MIDF) said.

This was lower than the previous week’s net purchases of RM551.6 million. 

In its Fund Flow Report for the week ended Jan 31, MIDF said local institutions ended a 48-day streak of consecutive trading-day inflows, net buying on two out of three trading days last week, with an outflow of RM37.9 million on Friday.

It said local retail investors also extended their buying streak on Bursa Malaysia for the fourth consecutive week, with a net purchase of RM353.9 million in equities, 2.36 times higher than the previous week’s inflow.  

“The average daily trading volume saw declines across the board last week. Foreign investors saw a decrease of 15.9 per cent, while local institutions and local retailers saw a decline of 25.7 per cent and 15.4 per cent, respectively,” it said.  

MIDF noted that foreign investors continued to sell equities on the local bourse for the 15th consecutive week, though outflows slowed to RM503.3 million compared to RM701.4 million the previous week.  

Foreign investors were net sellers every trading day, with Monday experiencing the largest outflow of RM265.9 million, it said.

On Tuesday and Friday, the outflows amounted to RM196.9 million and RM40.5 million, respectively.

“The top three sectors that recorded net foreign inflows were financial services at RM38.1 million, real estate investment trusts (RM2.3 million) and telecommunication and media (RM1.9 million).

“Meanwhile, the top three sectors that recorded the highest net foreign outflows were utilities (RM256.9 million), property (RM63.3 million), and industrial products and services (RM50.1 million),” it added. 

-- BERNAMA