Kuala Lumpur: 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 BERNAMA News Agency, MIDF Amanah Investment Bank Bhd’s Fund Flow Report for the week ended May 2 indicated that foreign investors were net buyers on every trading day, with inflows ranging between RM50.7 million and RM340.8 million.

The report highlighted that Friday saw the highest net foreign inflow, followed by Thursday, with net inflows of RM340.8 million and RM325.2 million, respectively. The financial services sector led with the highest net foreign inflows at RM567.4 million, followed by the healthcare sector at RM124.8 million and industrial products and services at RM107.9 million.

Conversely, the energy and plantation sectors experienced net foreign outflows, with RM31.9 million and RM6.0 million, respectively. Meanwhile, local institutions continued their net selling streak for the second consecutive week, with outflows totaling RM692.6 million, marking the second consecutive week of net selling by local institutions since August 24.

The report also noted that local retail investors extended their net selling trend to three weeks, with an outflow of RM161.2 million, which was almost 2.5 times more than the previous week’s outflow. The average daily trading volume saw an increase, with local institutions and local retailers recording increases of 8.7 percent and 5.7 percent, respectively, while foreign investors saw an increase of 26 percent.

In a broader Asian context, MIDF reported that foreign investors extended their streak of net buying activity to two weeks, with a substantial net inflow of US$3.32 billion, led by strong buying sentiment in India and Taiwan.