Foreign selling on Bursa tops RM477m

PETALING JAYA: Foreign investors offloaded RM477.7 million net equities on Bursa Malaysia last week, wiping off the inflow of RM345.1 million net in the prior week, said MIDF Research.

It was the first time foreign investors sold over RM400 million this year. The last time foreign selling reached such levels was back in end-December 2016.

International investors were net sellers on three out of four trading days last week.

Due to last week’s massive outflow, the cumulative net inflow thus far this year into shares listed on Bursa went below RM11 billion to RM10.6 billion.

MIDF Research said foreign participation rate dipped last week amid the surge in outflows. The foreign average daily trade value (ADTV) declined by a staggering 24% to retreat below the RM1 billion mark to settle at RM861 million.

“In contrast, retail participation remained healthy for the week. The retail ADTV increased by 7% from RM940 million to breach the RM1 billion mark for the first time in 17 weeks.”