Siena:Local institutions have extended their net buying on Bursa Malaysia for a third consecutive week, with net inflows reaching RM99.9 million last week. Retailers also continued their net buying trend, achieving a seventh straight week of net inflows amounting to RM258.2 million.

According to BERNAMA News Agency, foreign institutions were net sellers for the third consecutive week, with net outflows totaling RM358.1 million. The highest outflow of RM194.7 million occurred on Thursday, followed by RM79.6 million on Monday, RM63.4 million on Wednesday, RM14.0 million on Friday, and RM6.4 million on Tuesday.

The investment bank reported that the technology sector experienced the highest net inflow from foreign institutions at RM240.0 million, followed by industrial products and services with RM102.0 million, and transportation and logistics registering RM74.0 million. Conversely, the financial services sector faced the largest net foreign outflow at RM532.2 million, with utilities and plantation sectors following at RM162.9 million and RM116.2 million, respectively.

Additionally, MBSB IB highlighted a broad-based increase in the total average daily trading volume, with retail investors seeing a 9.7% rise, foreign institutions 1.4%, and local institutions 14.4%.

The report also noted that across the eight Asian markets monitored, foreign investors continued their net selling streak for a second consecutive week, with total net foreign outflows amounting to US$10.31 billion. South Korea recorded the highest net outflow among these markets, followed by India, Taiwan, Vietnam, Thailand, Indonesia, Malaysia, and the Philippines.