Bursa foreign outflow slows to RM28.38mil

KUALA LUMPUR: A revival of US stimulus deal negotiations in the latter half of the past week helped to slow the weekly foreign net outflow, which subsided to RM28.38mil as compared to RM543.91mil in the previous week.

According to MIDF Research, retailers and foreign investors remained net sellers on Bursa Malaysia, while local institutions were net buyers for a third straight week to the tune of RM40.86mil of equities.

"In terms of participation, the retail investors recorded a weekly increase +11.93% in average daily trade value (ADTV) while the foreign investor experienced the least increase of ADTV of +0.23%," it said.

Over the past week, the stock exchange experienced net foreign outflows on Tuesday and Wednesday for a total sum of RM228.48mil.

"The net outflow on both days could be primarily due to the sudden halt in US stimulus deal talks by US President Donald Trump," said MIDF.

There was a reversal of sentiment on Thursday and Friday as the US stimulus deal negotiations were revived, sending overseas fund back into the domestic market.

Year to date, foreign investors have sold RM22.35bil net worth of equities on Bursa Malaysia.

Among the major Southeast Asian markets, Malaysia has recorded the least foreign net outflow this year while Thailand has experienced the biggest.

Stocks that saw the biggest money inflows were Tenaga Nasional, MISC and Public Bank. Meanwhile, counters that recorded the top money outflows were Top Glove, Telekom Malaysia and VS Industry.
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