Foreign fund buying highest in 17 weeks at RM362m

MIDF Research said in retrospect, foreigners offloaded -RM19.5bil and -RM6.9bil in 2015 and 2014 respectively.

KUALA LUMPUR: Foreign funds were net buyers on Bursa Malaysia in the week ended Sept 8 at RM362.6mil which was the highest in 17 weeks, according to MIDF Equities Research.

The research house said on Monday the net inflow was 10 times more than the preceding week based on transactions in the open market, excluding off market deals. 

“We note that foreign funds were net buyers on every single day of the week. Thursday recorded the highest infl ow of RM153.1mil net, the highest in a day since July 13, coinciding with the strengthening Ringgit and increasing Brent crude oil price,” it said. 

MIDF Research said Malaysia’s inflow was in line with Thailand, bucking the trend in Asia which experienced an outflow.

“Last week’s foreign buying has brought the cumulative year-to-date net inflow to RM10.7bil,” it said.

It pointed out foreign participation rate was strong last week. The foreign average daily trade value (ADTV) surged by 29% to reach above the RM1bil mark for the first time in 10 weeks. Gross trade for the week ranged from RM936mil to RM1.5bil.

MIDF Research said retail participation edged higher for the week. The retail ADTV increased by 9% to RM880mil, staying above RM800mil for six weeks in a row.

The research house said local retail investors were net sellers at RM63.2mil while local institutions were also net sellers at RM245.4mil.