Local institutions turn net buyers on Bursa

KUALA LUMPUR: Local institutions bolstered Bursa Malaysia last week with a net purchase of RM256.4 million, following two weeks of selling, according to MIDF Amanah Investment Bank Bhd (MIDF Amanah IB).

In its weekly fund flow report, the investment bank said the local retailers also ended their three-week net selling streak by buying RM167 million last week.

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Conversely, foreign investors reversed their three weeks of net buying, selling RM423.5 million worth of domestic equities.

Local institutions

“Tuesday was the only day with a net foreign inflow, totalling RM151.1 million, while the rest of the week saw foreign funds exiting the market,” MIDF Amanah IB says. The largest outflow occurred on Thursday, totalling RM371 million.

The sectors with the highest net foreign inflows last week were property (RM43.9 million), utilities (RM42.2 million) and construction (RM6.5 million), it said.