Local Retailers Extend Purchases For Two Consecutive Weeks - MIDF Amanah
KUALA LUMPUR, July 21 (Bernama) -- Local retailers continued their net buying activities, resulting in a two-week consecutive streak of purchases on Bursa Malaysia, MIDF Amanah Investment Bank Bhd said today.
The investment bank said a net inflow of RM239.4 million was recorded last week, around four times higher than the previous week's inflow of RM52.7 million.
However, foreign investors extended their net selling streak to two consecutive weeks, registering a net outflow of RM206.1 million.
“Foreign investors were net sellers on every trading day except Monday and Friday, with outflows ranging from RM61.9 million to RM173.3 million. The largest outflow was recorded on Wednesday, followed by Tuesday with RM88.3 million and Thursday with RM61.9 million.
“Monday and Friday recorded net inflows of RM1.21 million and RM116.2 million, respectively,” MIDF Amanah said in its fund flow report today.
It noted that the top three sectors that recorded the highest net foreign inflows were construction (RM199.5 million), transportation and logistics (RM102.1 million) and industrial products and services (RM94.7 million).
The top three sectors that recorded the highest net foreign outflows were financial services (RM525.4 million), technology (RM86.1 million) and consumer products and services (RM71.8 million).
“Local institutions reversed their buying momentum last week, ending their streak of eight consecutive weeks of net inflows, recording a withdrawal of RM33.3 million,” MIDF Amanah said.
The average daily trading volume (ADTV) experienced a broad-based incline last week except local institutions.
MIDF Amanah said foreign investors and local retailers recorded increases of 6.9 per cent and 9.0 per cent, respectively, while local institutions saw a decrease of 2.6 per cent.
-- BERNAMA