Foreign investors sold RM780m last week

PETALING JAYA: The net amount sold by foreigners on Bursa Malaysia was RM780.5 million last week, higher than the prior week’s figure of only RM493.3 million.
“Malaysian equity has been subjected to heavy foreign money attrition particularly since the US election. Although the pace seems to have slowed down in the prior week, nonetheless the foreign attrition out of Malaysian equity has spiked up again last week,” MIDF Research said in its fund flow report yesterday.
It added that the heavy tide out of Malaysia equity is less evident in most other Asian markets.
Foreign investors continued to be net sellers throughout last week. There was a spike of RM487.6 million on Wednesday. Besides that, the attrition level ranged between RM150 million and RM30 million with the lowest recorded on Thursday of RM36.2 million.
On a cumulative year-to-date, the amount of net-selling from foreigners has further deepened to RM2.5 billion from a peak of +RM6.47 billion in April. However, compared with 2015, the outflow amount is still considered low as only RM8.6 billion has been redeemed since April.
It was RM19.5 billion net outflow in 2015.
Retail investors continued to be positive at RM476.7 million, maintaining its levels in October.