For­eign sell­ing on Bursa last week low­est for Novem­ber

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: Malaysian eq­ui­ties have been sub­jected to heavy for­eign money at­tri­tion since the US pres­i­den­tial elec­tion but the pace of the sell­down ap­pears to have slowed down last week com­pared with the past three weeks, as the net amount of RM493.3 mil­lion sold by for­eign­ers on Bursa Malaysia, was the low­est in Novem­ber.

MIDF Re­search said it is note­wor­thy that the sub­si­dence in the heavy tide out of Malaysian eq­ui­ties last week was sim­i­larly ap­par­ent in other Asian mar­kets.

“Through­out the week, for­eign in­vestors con­tin­ued to be net sell­ers fol­low­ing the trend from the prior week. De­spite the slight buildup of RM1.3 mil­lion on Mon­day, the at­tri­tion con­tin­ued to be per­sis­tent with the high­est on Thurs­day of RM168.7 mil­lion and low­est on Fri­day of RM73.6 mil­lion,” it said in its fund flow re­port yes­ter­day.

On a cu­mu­la­tive year-to­date, the amount of net sell­ing from for­eign­ers has shrunk to RM1.37 bil­lion from a peak of RM6.47 bil­lion in April.

“How­ever, com­pared with 2015, the out­flow amount is still con­sid­ered low as only RM7.8 bil­lion has been re­deemed since April. It was RM19.5 bil­lion net out­flow in 2015.”

Re­tail in­vestors con­tin­ued to be pos­i­tive at RM502.9 mil­lion, main­tain­ing the lev­els in Oc­to­ber.

The buy­ing on dips con­vic­tion was also stronger, which in­creased to RM105.1 mil­lion.

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