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Foreign funds pull out hefty RM1.6 bil from Bursa, highest net outflow since MCO 4 years ago

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Publish date: Mon, 22 Apr 2024, 10:33 AM

LIKE most of its Asian peers, Bursa Malaysia recorded massive net selling last week which amounted to - RM1.59 bil - the highest weekly net outflow in four years since the country went into movement control order (MCO) in March 2020.

This marks the eighth consecutive week of net selling in the local bourse by foreign investors, according to MIDF Research,

“They net sold every day last week and have been net selling Malaysian equities for nine straight trading days,” the research house pointed out in its weekly fund flow report.

“The only sector with a net foreign inflow last week was telecommunication & media (RM9.3 mil) while the top three sectors that recorded the highest net foreign outflows were financial services (-RM425.8 mil), consumer products & services (-RM308.9 mil) and industrial products & services (-RM206.3 mil).”

On the contrary, Bursa Malaysia continued to be supported by local institutions with net buying of RM1.79 bil for the week, a six-year high since February 2018.

“This is their eighth consecutive week of net buying. In terms of days, they have been net buying for 11 straight trading days,” observed MIDF Research.

However, local retailers remained net sellers for the sixth consecutive week with net sales amounting to -RM195.8 mil. They net bought RM59.5 mil on Monday (April 15) but were net sellers for the rest of the week.

In terms of participation, the average daily trading volume (ADTV) saw increases across the board led by local institutions (+30.2%), followed by foreign investors and local retailers at +28.4% and +19.5% respectively.

In comparison with another four Southeast Asian markets tracked by MIDF Research, all markets experienced net outflows last week with Thailand raking in the highest value at -US$285.5 mil after two weeks of net buying in a shortened number of trading days in view of the Songkran or Thai New Year celebration.

Elsewhere, Indonesia posted a third consecutive week of net outflows at -US$277.3 mil while Vietnam recorded its sixth consecutive week of foreign funds exiting its equity market at -US$46.8 mil. In a shortened trading week in the Philippines, foreigners net sold US$30.5 mil worth of equities for the third consecutive week.

The top three stocks with the highest net money inflow from foreign investors last week were YTL Power International Bhd (RM28.4 mil), Axiata Group Bhd (RM24.3 mil) and Inari Amerton Bhd (RM22.7 mil). - April 22, 2024

 

https://focusmalaysia.my/foreign-funds-pull-out-hefty-rm1-6-bil-from-bursa-highest-net-outflow-since-mco-4-years-ago/

Discussions
Be the first to like this. Showing 14 of 14 comments

ahbah

Mat Salleh cabut, why ?

1 month ago

5354_

Fear Unity Govn collapse? Today FF buy back because GE16 still long to go?

1 month ago

treasurehunt

Boycott manyak syok lor. Tak payah cakap besar. Kasi you tengok tumpuk kaw kaw.

1 month ago

GoodGuy88

Maybe due to PM's strong support for the Hamas?

1 month ago

5354_

How about today market? Why CI up 10 points and more counters up than down?

1 month ago

curiousq

so ....? today foreign finds buy?

1 month ago

5354_

Should be. Market up(or down) foreign funds control(decide).

1 month ago

speakup

our local institutions forced by Pmx to push up the CI to show foreigners that our Bursa is very strong. but foreigners are smart, they sell sell sell to these local institutions at high price

1 month ago

Why_

>700 counters up today not only CI counters.

1 month ago

Riaz1954

Goodguy88…..PMsupport for Hamas and Palestine the reason for outflow? Read the article properly, you will find region is impacted….inlcudes, Thailand, Vietnam, Indonesia! Me, I am very proud of Anwar…moral value and standing for the vulnerable is more important than being a slave!

1 month ago

beinvested

In a week,

1 month ago

nicholas99

they knew pattern of Anwar. so they ran.

1 month ago

treasurehunt

Put yourself in Jewish shoes. Jewish is the mighty titan in Wallstreet. What would you do to grill small potatoes with the strength. They won't let you die one but let you guys...

1 month ago

speakup

instead of buying cheap, govt funds are forced by Pmx to buy at higher prices.
Pmx think he can fool the world by pushing up our CI as if our economy damn good (in reality it's not!)

1 month ago

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