KUALA LUMPUR: Foreign institutions extended their net selling streak to a fifth consecutive week, recording net outflows of RM640.3mil last week, according to MBSB Research.

This came during a shortened trading week, with the market closed on Monday in conjunction with Malaysia’s National Day.

MBSB Research noted that foreign institutions were net sellers throughout the week, with the largest outflow recorded on Tuesday at RM488.4mil, followed by RM74.6mil on Thursday, RM56.8mil on Wednesday and RM20.5mil on Friday.

The top three sectors recording net foreign inflows were plantation at RM138.2mil, transportation and logistics at RM81.4mil, and energy at RM40.3mil.

Meanwhile, financial services recorded the largest net foreign outflow at RM462.9mil, followed by technology at RM118.8mil and utilities at RM106.8mil.

“Local institutions extended their net buying streak to six weeks, recording RM120.3mil in net inflows,” MBSB said, adding that retailers extended their net buying streak to a second week, with net inflows of RM520mil.

Average daily trading volume declined across the board, with foreign institutions down 30.5%, retailers 10.8% and local institutions 9.4%.

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