Foreign funds sell nearly RM600mil of Malaysian equities
By NST Business
September 7, 2020 @ 12:21pm
KUALA LUMPUR: Foreign selling of local equities on Bursa Malaysia were net sellers every day last week, according to MIDF Research.
The firm said the foreign investor was net seller to the tune of RM589.38 million last week, eclipsing the previous week of RM485.00 million.
Cumulatively, August saw net outflow of foreign investors at RM1.49 billion.
MIDF Research said retailers are net buyers of RM660.08 million of equities last week, with local institutions at RM71.52 million net during the same period.
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"As the market reopened on Tuesday last week, foreign investors sold RM379.90 million net of local equities, with retailers and local institutions as net buyers at RM199.95 million and RM179.95 million respectively.
"Foreign selling resumed the selling momentum until the end of week," it said.
MIDF Research said the largest net outflow of the week was on Tuesday with net outflow of RM379.90 million and the smallest outflow on Wednesday at RM25.97 million.
"So far in 2020, foreign investors net selling have amounted to RM20.94 billion worth of equities on Bursa. Local players, institutions are net buyers at RM10.21 billion and retailers at RM9.77 billion," it said.
The firm said in comparison to another three Southeast Asian markets that it tracked last week, the Philippines recorded the least foreign net outflow while Thailand experienced the biggest outflow compared to the others.
"In terms of participation, the retail investors recorded a weekly decrease 22.67 per cent in average daily trade value (ADTV) while the foreign investor experienced the decrease of ADTV of 27.97 per cent," it added.