“Based on data from Bursa, international investors sold RM600.7mil net of local equities last week, a slight increase in the week before,” the research house said in its weekly fund flow report.“In comparison with the other six Asian markets we track, Malaysia still has the fourth smallest foreign net outflow on a year-to-date basis,” MIDF said.
As markets reopened on Monday last week, international investors took out RM358.9mil net of local equities which was a similar trend for all Asian markets on fear of a resurgence in Covid-19 outbreak. Nevertheless, MIDF said foreign funds came into the local market at a tune of RM101.6mil net on Tuesday, snapping the 3-day selling spree on Bursa.
However, the foreign net buying in the local market was short-lived on Wednesday as international funds sold RM83.3mil net. MIDF said investors’ appetite probably was adversely affected by the political instability in the country with a higher likelihood of a snap election taking place as well as the fresh outbreak of the virus in Beijing.In terms of participation, foreign investors were the only group that experienced a weekly increase in their average daily traded value of 7.9% to reach RM1.62b.
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