Local Retailers Extend Buying Streak, Records Net Equity Inflow Of RM114.4 Mln -- MBSB IB

KUALA LUMPUR, Aug 4 (Bernama) -- Malaysian retailers continued their net buying activities on Bursa Malaysia for the fourth consecutive week last week, posting a net equity inflow of RM114.4 million, according to MBSB Investment Bank Bhd (MBSB IB).

In its weekly Fund Flow Report, the investment bank said local institutions also ended their two-week net selling streak and turned net buyers last week, registering a net purchase of RM263.7 million. 

Meanwhile, it noted that foreign investors continued to net sell for four consecutive weeks, recording a net equity outflow of RM378.1 million, representing 4.2 times higher than the previous week's outflow of RM89.9 million.

"Foreign investors were net sellers on every trading day, with outflows ranging from RM13.2 million to RM142.2 million. 

"The largest outflow was recorded on Tuesday, followed by Monday with RM103.3 million, Thursday with (–RM85.0 million) and Wednesday (–RM34.4 million), while Friday recorded the smallest outflow," it said. 

According to MBSB IB, the top three sectors that recorded the highest net foreign inflows were construction (RM107.4 million), transportation and logistics (RM93.9 million) and REITs (RM12.1 million). 

Additionally, the top three sectors that recorded the highest net foreign outflows were financial services (-RM245.8 million), healthcare (-RM154.1 million) and utilities (-RM114.2 million).

The investment bank said the average daily trading volume experienced a broad-based increase last week, with foreign investors and local retailers recording a 14.9 per cent and 2.8 per cent rise, respectively, while local institutions saw a decline of 5.0 per cent.

-- BERNAMA