According to MIDF Amanah Investment Bank Bhd’s fund flow report for the week ended May 16, foreign investors were net buyers on every trading day with inflows ranging from RM185.6 million to RM797.4 million.

It said the highest net inflow was recorded on Monday at RM797.4 million, followed by Tuesday at RM488.4 million.

The three sectors that recorded the highest net foreign inflows were financial services (RM797.2 million), utilities (RM218.6 million), and telecommunications and media (RM179.7 million).

“The only two sectors that recorded net foreign outflows were energy (RM56.3 million) and real estate investment trusts (RM3.7 million),” it said.

Meanwhile, MIDF stated that the local institutions also extended their streak of net selling to four consecutive weeks, with outflows amounting to RM1.35 billion last week, nearly 3.5 times higher than the previous week’s outflow of RM397.8 million.

It said the local retail investors extended their trend of net selling to the fifth week, with outflows increasing 13 times to RM330.2 million compared to RM24.8 million the week before.

“The average daily trading volume (ADTV) saw a broad-based increase last week.

“Local institutions and local retailers saw an increase of 50.9% and 31.8%, respectively, while foreign investors saw an increase of 42.6%,” it said.