Foreign funds sell RM482mil Malaysian equity

PETALING JAYA: Malaysian equity foreign fund flows turned negative again last week. The positive net foreign fund flow of the prior week, the first since before the US election in November, was short-lived, according to MIDF Equities Research.

“The net amount sold by foreigners on Bursa Malaysia last week was RM481.7mil compared to the prior week’s net purchase of RM44mil.The negative foreign fund flow last week was equally prevalent in many other Asian equity markets,” MIDF said in a weekly report. The research house said foreign investors have been selling off their investments throughout the whole week on a net daily basis. The highest attrition was last Friday, an outflow of RM163.4mil and the lowest was last Tuesday of RM18.3mil.