Foreign buying of Malaysian equities at RM165.1m: MIDF Research

  • Business
  • Monday, 28 Apr 2014

KUALA LUMPUR: Foreign buying of Malaysian equities rose to RM165.1mil in the week ended April 25 after selling RM18.7m the week before, according to MIDF Equities Research.

The research house said on Monday the foreign buying, partly reflecting the wider optimism over Southeast Asian markets.

"Foreign funds increased their portfolio holdings of Malaysian stocks by a moderate RM165.1mil, after selling RM18.7mil the week before. For 2014 year-to-date, the cumulative figure is still in the red zone," it said.

MIDF Research said however last week's buying reduced the cumulative net outflow for the year to RM5.37bil, compared with a net inflow of RM3.03bil in 2013. 

"The mood towards Malaysian equity, relative to its regional peers, is still on the side of caution. Foreign funds were net buyers in only two of the five trading days last week. However, foreign buying surged to RM239.6mil on Tuesday, the highest one-day purchase in 16 days, and the fourth highest in a day this year," it said.

The research house said the retail market remained active, with plenty of trading activities. Although retailers offloaded a marginal RM43.3mil in the open market, participation rate remained elevated at RM1.1bil.

It was the second week in a row that the figure exceeded the RM1.0bil mark, and the fifth week this year that the threshold had been surpassed.

"Local institutions remained active, contributing an average RM2.3bil a day in gross trading volume last week. So far this year, local funds have mopped up RM5.0bil of local stocks," said MIDF Research.

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