Local institutions extend Bursa buying with RM99.9 million inflow
Retail investors posted RM258.2 million in net inflows, extending their buying run to seven consecutive weeks.
Bursa Malaysia saw continued buying by domestic investors during the week ended Oct 9, while foreign institutions withdrew a net RM358.1 million, according to MBSB Investment Bank Bhd (MBSB IB). Local institutions bought a net RM99.9 million, taking their buying run to three consecutive weeks.
Retail investors contributed net buying of RM258.2 million, their seventh consecutive week of inflows. Foreign institutions, meanwhile, remained net sellers for a third consecutive week. They sold more than they bought on each of the five trading days, with Thursday accounting for the largest net outflow at RM194.7 million.
Technology led the sectors attracting foreign money, with net inflows of RM240.0 million. Industrial products and services drew RM102.0 million, while transportation and logistics received RM74.0 million. The largest sector outflows were RM532.2 million from financial services, RM162.9 million from utilities and RM116.2 million from plantation.
MBSB IB reported higher average daily trading volume across all three investor groups. Volume rose 14.4% for local institutions, 9.7% for retail investors and 1.4% for foreign institutions.
Across eight Asian markets tracked by the bank, foreign net selling continued for a second consecutive week, with outflows totalling US$10.31 billion. South Korea had the biggest outflow, followed by India, Taiwan, Vietnam, Thailand, Indonesia, Malaysia and the Philippines.
