Foreign funds net buyers at RM84.9m in week ended July 12

Public Bank recorded the highest net money inflow of RM22.89m last week.

KUALA LUMPUR: Foreign investors were net buyers of stocks listed on Bursa Malaysia for the fourth consecutive week ended July 12, MIDF Research said.

The research house said on Monday foreign funds bought RM84.9mil net of local equities last week compared with RM230.2mil a week earlier.

MIDF said foreign funds were net buyers at RM15.90mil on Monday and the buying spiked to RM104.6mil net on Tuesday. Foreign net inflows fell by more than half on Wednesday and Thursday to RM42.5mil and RM51.2mil.

The slowdown in net inflows aere ahead of the interest rated direction from Federal Reserve Chairman Jerome Powell’s congressional testimony.

But the four-day buying streak was snapped on Friday as foreign funds offloaded RM129.3mil net. 

“Much of the selling activity was spurred by the potential earnings dilution of CIMB Group Holdings following the proposed issuance of exchangeable bonds by Khazanah Nasional,” it said. Year-to-date, the foreign net outflow from Malaysia was -RM4.35bil. 

Public Bank recorded the highest net money inflow of RM22.89m last week. Its share price dipped 0.17% for the week, outperforming the local bourse which had a 0.78% weekly loss.

CIMB Group Holdings Bhd recorded the second highest net money inflow of RM18.59m. Its share price ended 3.17% lower for the week.

However, Malayan Banking saw the largest net money outfl ow of –RM8.37mil last week. Its stock price was -0.56% lower for the week.

Dialog Group recorded the second largest net money outflow –RM5.76mil. Its share price was 0.90% higher during the week.