Kuala lumpur: Local institutions and retailers extended their net buying streaks on Bursa Malaysia last week, with institutions recording a sixth consecutive week of net inflows and retailers posting a third straight week, amounting to RM2.12 billion and RM410.6 million, respectively.

According to BERNAMA News Agency, MBSB Investment Bank Bhd's weekly fund flow report for the week ended May 29 highlighted that foreign institutions extended their three-week consecutive streak of net selling, recording RM2.53 billion in net outflows.

Foreign institutions were net sellers on all four trading days during the week, with the largest outflow recorded on Friday at RM1.63 billion. This was followed by Thursday's outflow of RM397.3 million, Tuesday's RM371.9 million, and Monday's RM128.8 million. Only three sectors saw net inflows from foreign institutions: technology (RM64.0 million), industrial products and services (RM40.7 million), and transportation and logistics (RM19.5 million).

Conversely, the top three sectors experiencing net outflows from foreign institutions were consumer products and services, which saw RM881.9 million leave, followed by financial services at RM662.3 million, and utilities at RM541.6 million. The average daily trading volume (ADTV) saw a varied increase: retailers by -1.0 percent, local institutions by +20.0 percent, and foreign institutions witnessing a +171.1 percent rise.

Across eight Asian markets, there was a shift from a two-week streak of net selling, with net foreign inflows totaling US$666.3 million. Taiwan was the only market that experienced net foreign inflows, while outflows were led by South Korea and included Indonesia, Malaysia, India, Vietnam, the Philippines, and Thailand.