Low for­eign money tide on Bursa dur­ing Bud­get Week

The Sun (Malaysia) - - SUNBIZ -

PE­TAL­ING JAYA: For­eign money tide was low on Bursa Malaysia last week, with for­eign in­vestors buy­ing RM211.1 mil­lion worth of stocks af­ter dis­pos­ing of RM227.4 mil­lion’s worth in the week be­fore.

“For­eign­ers al­ter­nated be­tween buy­ing and sell­ing on a weekly ba­sis in the past eight weeks,” MIDF Re­search said in its fund flow re­port yes­ter­day.

Among the no­table devel­op­ments last week, the prime min­is­ter an­nounced Bud­get 2017 on Fri­day, data showed the con­sumer price in­dex in Septem­ber was up by 1.5% to 115.3 year-on-year and for­eign­ers re­turned as the ring­git sta­bilised and strength­ened to RM4.179 to the US dol­lar.

Ac­cord­ing to MIDF Re­search, for­eign in­vestors were net sellers on Mon­day (RM70.7 mil­lion), Thurs­day (RM15.5 mil­lion) and Fri­day (RM33.2 mil­lion). They were net buy­ers on Tues­day (RM254.2 mil­lion) and Wed­nes­day (RM76.3 mil­lion).

For­eign­ers’ par­tic­i­pa­tion rate in­creased by 14% to RM894.14 mil­lion from RM783.2 mil­lion in the week prior.

Year-to-date cu­mu­la­tive net for­eign in­flow ex­panded to RM2,405.8 mil­lion from RM2,194.7 mil­lion in the pre­ced­ing week.

Mean­while, lo­cal in­sti­tu­tions turned net sellers dur­ing the week, of­fload­ing RM110 mil­lion worth of shares af­ter they bought up RM309.5 mil­lion in the pre­ced­ing week.

“Re­tail­ers con­tin­ued to sell stocks for the fourth suc­ces­sive week last week by di­vest­ing RM101.1 mil­lion, the most since Septem­ber. In the week ear­lier, they sold RM82.1 mil­lion,” MIDF Re­search said.

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