KUALA LUMPUR: Foreign funds resumed their selling of Malaysian equities in the week ended March 7 while retail investors turned cautious, according to MIDF Equities Research.
MIDF Research said foreigners sold on Monday through to Thursday at an average of -RM55.1mil per day.
However, this was relatively low compared with the average sale of -RM166.3mil between Jan 3 to Feb 26 this year, when foreign investors sold every day during the 35-day trading period, except on Feb 19.
The research house noted that selling stopped abruptly on Friday, as foreign investors almost squared their position for the day, adding a marginal +RM1.4mil.
"Retail investors turned cautious last week, making a marginal net sale of -RM7.5mil after two weeks of buying. Daily participation rate dropped sharply to below the RM1bil mark for the first time in three weeks at only RM881mil," it said.
However, MIDF Research noted that "retail" stocks made a strong comeback last week.
"Local institutional funds supported the market last week, mopping up +RM226.4mil net. It was not aggressive, although participation rate remained elevated at RM2.41bil. Local institutional participation had exceeded the RM2bil mark in the last nine weeks," it said.
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