Bomb hoax caused RM266.2 mil­lion for­eign out­flow from Bursa on Fri­day

The Sun (Malaysia) - - SUNBIZ -

PE­TAL­ING JAYA: A bomb hoax at Bursa Malaysia build­ing led to RM266.2 mil­lion of for­eign out­flow last Fri­day, ac­cord­ing to MIDF Re­search.

Over the past week, for­eign funds off­loaded RM240.8 mil­lion net in eq­ui­ties com­pared with an in­flow of RM733.4 mil­lion the week prior.

“For­eign in­vestors were net sell­ers on Tues­day (- RM100.4 mil­lion), Wed­nes­day (-RM31.8 mil­lion) and Fri­day (- RM266.2 mil­lion). The sell­down on Fri­day was the steep­est in a sin­gle day since June 16,” the re­search house noted.

How­ever, for­eign funds were net buy­ers on Mon­day (RM50 mil­lion) and Thurs­day (RM107.6 mil­lion).

“The buy­ing on Thurs­day was largely due to the Or­gan­i­sa­tion of the Petroleum Ex­port­ing Coun­tries’ de­ci­sion to cut out­put, which bodes well for oil prices and some of Malaysia’s up­stream oil and gas play­ers,” MIDF Re­search said.

For­eign­ers’ par­tic­i­pa­tion rate de­clined for the sec­ond suc­ces­sive week to RM885 mil­lion from RM921.36 mil­lion the week be­fore.

In Septem­ber, for­eign in­vestors sold off RM207.2 mil­lion against a net buy­ing of RM1.58 bil­lion in Au­gust.

Year-to-date cu­mu­la­tive net for­eign in­flow con­tracted slightly to RM2.33 bil­lion com­pared with RM2.54 bil­lion, the high­est in al­most five months.

For­eign­ers off­loaded RM19.5 bil­lion in 2015, and RM6.9 bil­lion in 2014.

Mean­while, MIDF Re­search said lo­cal in­sti­tu­tions turned net buy­ers last week, load­ing up RM244.6 mil­lion worth of shares against a sell­off of RM738.7 mil­lion in the pre­ced­ing week.

“Lo­cal funds were buy­ers on Tues­day (RM80.7 mil­lion), Wed­nes­day (RM39.4 mil­lion) and Fri­day (RM231.7 mil­lion). The buy­ing on last Fri­day was the high­est in a day since June 16. On the other hand, they sold stocks on Mon­day (-RM34.7 mil­lion) and Thurs­day (-RM72.5 mil­lion),” it noted.

MIDF Re­search said re­tail­ers took prof­its last week by sell­ing RM3.8 mil­lion worth of shares af­ter be­ing net buy­ers two weeks in a row be­fore that.

Among the three cat­e­gories of in­vestors, only lo­cal in­sti­tu­tional in­vestors saw an in­crease in par­tic­i­pa­tion rate, which rose to the high­est in six weeks at RM2.27 bil­lion.

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