KUALA LUMPUR: Local institutions sustained their support for the domestic stock market for the 14th consecutive week, recording net purchases of RM551.6 million in domestic equities.
However, this marked a decline compared to the previous week's net purchases of RM797.8 million, according to MIDF Amanah Investment Bank Bhd (MIDF).
In its Fund Flow Report for the week ended January 24, MIDF highlighted that local institutions have maintained net buying for an impressive 46 consecutive trading days.
Additionally, local retail investors continued their buying streak on Bursa Malaysia for the third consecutive week, albeit with a smaller net purchase of RM149.9 million in equities.
"The average daily trading volume (ADTV) saw declines across the board last week. Foreign investors saw a decrease of 13.6 per cent while local institutions and local retailers saw a decline of 8.7 per cent and 5.5 per cent, respectively," it added.
MIDF noted that foreign investors continued to sell equities on the local bourse for the 14th consecutive week, though outflows eased to RM701.4 million compared to RM1.33 billion the previous week.
According to MIDF Research, foreign investors were net sellers throughout the week, with Friday seeing the highest outflow at RM300.5 million.
On the other trading days, the outflows ranged between RM23.2 million and RM169.0 million.
"The top three sectors that recorded net foreign inflows were financial services (RM33.8 million), telecommunication & media (RM8.9 million) and real estate investment trusts (REITs) (RM4.6 million).
"Meanwhile, the top three sectors that recorded the highest net foreign outflows were utilities (RM222.4 million), construction (RM162.0 million), and property (RM112.9 million)," it said in its fund flow report for the week ended Jan 24, 2025.