KUALA LUMPUR: Foreign institutions extended their net selling streak on Bursa Malaysia to two consecutive weeks, recording RM623.6 million in net outflows in the week ended August 14, according to MBSB Investment Bank Bhd (MBSB IB).

In its fund flow report, MBSB IB said foreign institutions were net sellers on all five trading days, with the highest outflow recorded on Friday at RM181.3 million, followed by Tuesday at RM171.4 million.

The transportation and logistics sector recorded the highest net foreign inflow at RM103.8 million, followed by telecommunication and media at RM34.9 million and energy at RM19.7 million.

Meanwhile, financial services recorded the largest net foreign outflow at RM469.3 million, followed by industrial products and services at RM121.2 million and consumer products and services at RM89.6 million.

Foreign institutions bought RM77 million more of Westports Holdings Bhd during the week to Aug 14 than they sold, followed by Axiata Group Bhd and MTT Shipping and Logistics Bhd which saw net foreign inflows of RM54.7 million and RM21.5 million respectively.

Meanwhile, Malayan Banking Bhd had the biggest net foreign outflows during the week, at RM293.8 million, followed by AMMB Holdings Bhd at RM114.6 million and Press Metal Aluminium Holdings Bhd at RM104.2 million.

Local institutions extended their net buying streak to three consecutive weeks, recording RM355.5 million in net inflows.

Retail investors also returned as net buyers after two consecutive weeks of net selling, recording RM268.1 million in net inflows.

MBSB IB said average daily trading volume declined across all investor groups, with retail investors recording a 1.1 per cent decrease, local institutions 10.9 per cent and foreign institutions 3.7 per cent