Low foreign money tide on Bursa during Budget Week

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.