Foreign investor sell off continues for 16th straight week

  • Markets
  • Tuesday, 09 Jun 2020

KUALA LUMPUR: Bursa Malaysia marked its sixteenth consecutive week of foreign selling last week, according to MIDF Research.

“Based on data from Bursa, international investors sold RM1.15bil net of local equities last week compared to the RM663.8mil disposed of in the week before, ” MIDF said in its weekly fund flow report.

“Foreign investors have so far taken out RM14.4bil net of local equities from Malaysia. In comparison to its other six Asian peers that we monitor, Malaysia is now the nation with the fourth smallest foreign net outflow on a year-to-date basis, ” it added.

The research house noted that Bursa started the week on a sluggish note as foreign investors sold RM179.4mil on Monday.

The level of foreign net inflow inched higher to RM191.4mil on Tuesday and peaked on Wednesday at RM387.6mil net, bucking the trend of foreign net inflows seen in peers namely, South Korea and Taiwan.

MIDF said Thursday saw a slightly lower foreign net outflow of RM237.8mil net before shrinking further to RM150.2mil on Friday.

“The slowdown in foreign net outflow was partly attributable to the announcement of Malaysia’s short term recovery plan on Friday which put the automobile sector in the spotlight due to the sales tax exemption on car purchases, ” it added.

In terms of participation, only foreign investors saw a substantial weekly decline in their average daily traded value (ADTV) of 50% to reach RM1.7bil.

Nevertheless, MIDF said the ADTV is still healthy above the RM1bil mark.

For the week ended June 5, RHB Bank Bhd registered the highest net money inflow of RM9.93mil.

Public Bank Bhd recorded the second highest net money inflow of RM8.78mil while AirAsia Group saw the third highest net money inflow of RM4.88mil.

On the other hand, Top Glove Corp saw the largest net money outflow of RM21.66mil last week.

Genting Malaysia recorded the second largest net money outflow of RM10.16mil while Tenaga Nasional registered the third largest net money outflow of RM10.07mil during the week under review.

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MIDF , fund flow , Bursa Malaysia


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