KUALA LUMPUR: Foreign funds were net sellers on Bursa Malaysia in the first week of 2016 with net selling at -RM613.7mil as the markets were roiled by China’s volatile markets.
BIMB Securities Research said on Monday while foreign funds were net sellers, local institutions were net buyers at RM559.90mil and retail investors at RM53.80mil.
Last Friday, foreign funds were net sellers at –RM134mil while local institutions and local retail investors were net buyers at RM119.8mil and RM14.2mil.
BIMB Research said Wall Street and Europe markets closed lower on Friday as investors focused on China, oil prices and monthly jobs report in the US. The DJIA fell 1.02% to end at 16,346.45 and the S&P 500 1.08% to 1,922.03.
In Asia, most of the key indices ended in positive territory on Friday after the China Securities Regulatory Commission suspended the market-calming system.
In line with other regional market, the FBM KLCI advanced 2.48 points or 0.15% to close at 1,657.61.
“We expect the local market to remain volatile as investor weighed by concerns over China and weakness in global commodity market with index hovering around 1,650 to 1,660,” it said.
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