Kuala Lumpur: Foreign investors extended their streak of net inflows on Bursa Malaysia for the third week, recording a net inflow of RM422.6 million last week, though lower than the previous week of RM853.3 million.

According to BERNAMA News Agency, MIDF Amanah Investment Bank Bhd’s Fund Flow Report for the week ended May 9 indicated that foreign investors were net buyers on every trading day, except Monday and Thursday, which saw outflows of RM92.4 million and RM42.4 million, respectively.

The report highlighted that the highest net inflow was recorded on Wednesday at RM364.8 million, followed by Friday with RM135.1 million. The three sectors that recorded the highest net foreign inflows were utilities (RM253.3 million), telecommunications and media (RM53.3 million), and financial services (RM51.1 million). Conversely, the only two sectors that recorded net foreign outflows were energy (RM57.5 million) and technology (RM56 million).

Meanwhile, MIDF noted that local institutions extended their streak of net selling to three consecutive weeks, with outflows amounting to RM397.8 million. Additionally, local retail investors continued their trend of net selling into the fourth week, although the outflow eased to RM24.8 million compared to RM161.2 million the week before.

The report further stated that the average daily trading volume saw a broad-based increase last week, with local institutions and local retailers experiencing an increase of 8.6 per cent and 2.9 per cent, respectively, while foreign investors observed an increase of 6.1 per cent.