MIDF Research: Foreigners sold RM34.9m equities last week

  • Business
  • Monday, 12 Nov 2012

KUALA LUMPUR: Foreign investors sold RM34.90mil of Malaysian equities in the week ended Nov 9 during the challenging US presidential election week, reversing a record 20 weeks of net buying, MIDF Equities Research said.

It said on Monday on a net basis, foreign portfolio investors sold RM34.9mil, snapping the 20-week of net buying where they had purchased RM7.5bil of Malaysian equities from the open market.

"For the year until last Friday, the cumulative net inflow of foreign funds to Malaysian equity dropped slightly to RM13.2bil. It was seven times the amount of RM1.9bil recorded for the entire 2011," said the research house.

The research house said since January 2010, the cumulative net purchase of Bursa-listed shares by foreigners stayed above the RM30bil mark at RM30.4bil.

MIDF Equities Research said foreign funds sold on Monday, Tuesday and Friday, but the daily amount was marginal.

The rate of participation, which comprised of gross purchases and sales, rose to RM892mil, compared with RM794mil the week before, it said, describing it as moderate.

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