FOREIGN INVESTORS CONTINUE BUYING STREAK ON BURSA MALAYSIA WITH RM853.8 MLN INFLOWS

KUALA LUMPUR, May 5 (Bernama) -- Foreign investors continued their streak of net inflows on Bursa Malaysia, extending to a two-week buying streak, recording a net inflow of RM853.8 million, marking the first consecutive weeks of net foreign inflows since September 24.

According to MIDF Amanah Investment Bank Bhd’s Fund Flow Report for the week ended May 2, foreign investors were net buyers on every trading day, ranging between RM50.7 million and RM340.8 million.

It said Friday saw the highest net foreign inflow, followed by Thursday, which recorded net inflows of RM340.8 million and RM325.2 million, respectively.

“The three sectors that recorded the highest net foreign inflows were financial services (RM567.4 million), healthcare (RM124.8 million) and industrial products and services (RM107.9 million).

“The only two sectors that recorded net foreign outflows were energy (RM31.9 million) and plantation (RM6.0 million),” it said.

Meanwhile, MIDF stated that the local institutions extended their net selling streak to two consecutive weeks, with outflows amounting to RM692.6 million, marking the second consecutive week of net selling by local institutions since August 24.

It said the local retail investors extended their net selling trend to three weeks, with an outflow of RM161.2 million, almost 2.5 times more than the previous week's outflow.

“The average daily trading volume saw a broad-based increase last week, with local institutions and local retailers recording an increase of 8.7 per cent and 5.7 per cent, respectively, while foreign investors saw an increase of 26 per cent,” it said.

Meanwhile, in Asia, MIDF reported that the foreign investors extended their streak of net buying activity to two weeks, recording a substantial net inflow of US$3.32 billion (US$1=RM4.25), led by strong buying sentiment in India and Taiwan once again.

-- BERNAMA