KUALA LUMPUR: Foreign selling on Bursa Malaysia jumped to RM244.5mil net of local equities last week, or nearly five times the amount withdrawn in the previous week.
According to MIDF research's fund flow report, the trading days of Nov 26 to 30 marked the fourth straight week of offshore investors selling down on local equity.
The heaviest day of foreign fund selling came on Tuesday when the FBM KLCI experienced its biggest daily drop since Oct 23.
"Investor sentiment was tempered on Tuesday as President Trump intends expand trade tariffs on all remaining imports from China and the Genting Malaysia Bhd
’s legal dispute with Walt Disney and and Twenty-First Century Fox Inc," said MIDF research.
For the month of November, total foreign net outflow came to RM718.9mil, nearly half of the RM1.42bil net seen in October.
Year-to-date, net outflow cames to RM10.67bil. MIDF said the net outflow on the Malaysian market remains lower than that of Thailand and Indonesia, which it also tracks.
The stocks that saw the most net money inflows were Malayan Banking, Genting and Bursa Malaysia. Meanwhile, stocks that topped net outflows were Genting Malaysia, Top Glove and Nestle Malaysia.
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