Bursa Malaysia sees six straight week of net foreign selling

  • Markets
  • Monday, 16 Dec 2019

KUALA LUMPUR: Foreign funds remained as net sellers on Bursa Malaysia last week, marking the sixth weekly outflow, according to MIDF Research.

“Based on data from Bursa, international investors sold RM367.1m net of local equities last week, extending the foreign net selling spree to six weeks, ” MIDF said in its weekly fund flow report.

The research house said Bursa had a bumpy start to the week as foreign investors took out RM131.3mil net of local equities on Monday.

Optimism on strong U.S jobs report on the preceding Friday was outweighed by weak export figures of China.

“Foreign net selling inched lower on Tuesday to reach RM123.4mil net as investors appear reluctant to place bets ahead of the Dec 15 deadline for the U.S. to place more tariffs on China, ” it said.

Offshore investors continued to lower their selling activity to RM112.2m as the Trump administration and House of Democrats reached a deal that would move the U.S-Mexico-Canada agreement forward.

MIDF noted that international funds made a modest return to Bursa on Thursday at a tune of RM39.7mil net, snapping the 16-day foreign net selling streak.

The local stock barometer followed suit to see its first gain in four days after the U.S Fed left its key benchmark rate unchanged through 2020 amidst a solid economic outlook.

However, the foreign net inflow was short-lived as foreign funds sold RM40.0mil net on Friday.

“December has so far seen a foreign net outflow of RM1.20bil. Meanwhile the year-to-date foreign net outflow from Malaysia as of last Friday has reached RM11.13bil, only RM561.0mil short of last year’s total foreign net outflow of RM11.69bil, ” MIDF said.

In terms of participation, foreign investors saw the sharpest increase in average daily traded value (ADTV) amongst the other investor groups, gaining 49.4% to reach RM1.08bil.

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Bursa Malaysia , MIDF , fund flow


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