Tuesday, September 1, 2020

Foreign net selling of RM485m on Bursa, eclipsed previous week selloff

PETALING JAYA: The fourth week of August saw a foreign investor selloff of RM485 million net of local equities, the highest for reported for the month, eclipsing the previous week’s outflow of only RM40.93 million, according to the

However, MIDF Research noted that the net outflow for August is far lesser than July, where offshore investors sold shares amounted to RM2.7 billion. So far in 2020, foreign investors have sold RM20.53 billion on Bursa.

Last week saw foreign funds has been net sellers on most days of the week, while retail investors are net buyers, mopping up RM203.3 million worth of equities, almost in similar amount with local institutions at RM281.05 million during the same period.

On Monday, the research house pointed out that offshore investors sold RM120.92 million net of local equities, with retailers and local institutions as net buyers and net sellers at RM147.3 million and -RM26.34 million respectively.

However, it reported that the foreign selling stalled mid-week as foreign investors turned net buyers to the tune of RM1.91 million before resuming the selling momentum until the end of week.

Thursday recorded the largest net outflow of the week with RM135.3 million.

According to MIDF Research, in comparison to the other three Southeast Asian market it tracks, Indonesia recorded the least foreign net outflow while Thailand experienced the biggest outflow compared to the others.

In terms of participation, it stated that the retail investors recorded a weekly increase +27.4% in average daily trade value (ADTV) while the foreign investor experienced the increase of ADTV of +120.8%.



source https://www.thesundaily.my/business/foreign-net-selling-of-rm485m-on-bursa-eclipsed-previous-week-selloff-BF3777939

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