KUALA LUMPUR: Selling by foreign funds picked up pace in the week ended Nov 15 and they were net sellers at RM408.5mil compared with -RM237.2mil net sold in the preceding week, according to MIDF Research.
According to its data released on Monday, this was the largest in six weeks. However, the selling was absorbed by local institutions at RM319.30mil and local retail investors at RM89.3mil.
“November has so far seen a foreign net outﬂow of -RM594.0mil. On a year-to-date basis, foreign funds have taken out -RM8.98bil of local equities from Malaysia, making up 76.8% of last year’s total foreign outﬂow of -RM11.69bil, ” the research house said.
MIDF Research said last Friday, foreign funds were net sellers at RM57mil while local institutions were net buyers at RM23.7mil and local retail investors at RM33.3mil.
Last week, HONG LEONG BANK BHD saw the largest net money outﬂow of -RM10.60mil. Its stock price was -0.35% lower for the week, outperforming vis-à-vis the FBM KLCI which declined -0.93% during the review week.
Dialog Group Bhd recorded the second largest net money outﬂow -RM9.54mil during the week under review. Its share price was unchanged for the week.
IHH HEALTHCARE BHD registered the third largest net money outﬂow of –RM5.82m in the review week. Its share price was -2.90% lower for the week, underperforming the local benchmark which was -0.93% lower for the week.
On a positive note, Petronas Dagangan Bhd registered the highest net money inﬂow of RM15.16mil last week. Its share price advanced 0.17% for the week.
Tenaga Nasional Bhd recorded the second highest net money inﬂow of RM6.63mik. Its share price ended -1.16% lower for the week.
MIDF Research said net money inﬂow amidst retreating share price may indicate a buy on weakness (BOW) stance among some investors.
Sunway REIT saw the third highest net money inﬂow of RM4.36mil. Its share price was -2.75% lower during the week.
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