RM362.6m net buy­ing by for­eign funds

The Sun (Malaysia) - - SUNBIZ -

PE­TAL­ING JAYA: For­eign funds mopped up RM362.6 mil­lion net last week, the high­est in 17 weeks.

MIDF Re­search said it was also 10 times more than the pre­ced­ing week, based on trans­ac­tions in the open mar­ket, ex­clud­ing off­mar­ket deals.

For­eign tide-in to Bursa ac­cel­er­ated last week, mark­ing the sec­ond con­sec­u­tive week of in­flows. For­eign­ers were net buy­ers dur­ing the four-day trad­ing week. Bursa was closed on Mon­day in con­junc­tion with Malaysia’s out­stand­ing achieve­ments in the SEA Games.

“We note that for­eign funds were net buy­ers on ev­ery sin­gle day of the week. Thurs­day recorded the high­est in­flow of RM153.1 mil­lion net, the high­est in a day since July 13, co­in­cid­ing with the strength­en­ing ring­git and in­creas­ing Brent crude oil price. We also note that Malaysia’s in­flow was in line with Thai­land, buck­ing the trend in Asia which ex­pe­ri­enced an out­flow,” MIDF said in its fund flow re­port yes­ter­day.

Last week’s for­eign buy­ing has brought the cu­mu­la­tive year-to­date net in­flow to RM10.7 bil­lion.

For­eign par­tic­i­pa­tion rate was strong last week. The for­eign av­er­age daily trade value surged by 29% to top RM1 bil­lion for the first time in 10 weeks.

Re­tail par­tic­i­pa­tion edged higher last week. The re­tail ADTV rose 9% to RM880 mil­lion.

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