Kuala Lumpur: Foreign investors continued their streak of net inflows on Bursa Malaysia, extending to a four-week buying streak, recording a net inflow of RM1.68 billion last week, nearly four times higher than the previous week’s inflow of RM422.6 million.

According to BERNAMA News Agency, MIDF Amanah Investment Bank Bhd’s Fund Flow Report for the week ended May 16 indicated that foreign investors were net buyers on every trading day, with inflows ranging from RM185.6 million to RM797.4 million. The highest net inflow was recorded on Monday at RM797.4 million, followed by Tuesday at RM488.4 million.

The report highlighted that the three sectors with the highest net foreign inflows were financial services (RM797.2 million), utilities (RM218.6 million), and telecommunications and media (RM179.7 million). Conversely, the energy and real estate investment trusts sectors experienced net foreign outflows of RM56.3 million and RM3.7 million, respectively.

MIDF noted that local institutions also extended their streak of net selling to four consecutive weeks, with outflows amounting to RM1.35 billion last week, nearly 3.5 times higher than the previous week’s outflow of RM397.8 million. Local retail investors extended their trend of net selling to the fifth week, with outflows increasing 13 times to RM330.2 million compared to RM24.8 million the week before.

The report also mentioned that the average daily trading volume (ADTV) saw a broad-based increase last week. Local institutions and local retailers experienced increases of 50.9 per cent and 31.8 per cent, respectively, while foreign investors saw an increase of 42.6 per cent.