Foreign selling continues, but moderately


Foreign investors sold a net RM903.1 million worth of stocks last week against a net short RM1.27 billion in the previous week, thus reducing their exposures to Bursa Malaysia-listed companies for the sixth consecutive week.

MIDF Amanah Investment Bank Bhd’s fund flow report noted that the selling has extended to 24 days, the longest since the 29-day selldown in early January to mid-February 2014.

The outflow year-to-date from Malaysia stands at RM3.02 billion, MIDF noted.

The sell-off of Malaysian equities remained the lowest among the Asean markets like Thailand, the Philippines and Indonesia.

The participation of foreign investors has been encouraging with average daily trade value remaining above the RM1 billion mark at RM1.64 billion despite retreating from the all-time high achieved in the week before.

Retail investors’ and local funds’ buying activity extended to its fourth and sixth week respectively.

Top Glove Corp Bhd (picture) registered the highest net money inflow last week with RM15.81 million, while its share price rose 4.41% against the FTSE Bursa Malaysia KLCI.

AirAsia Group Bhd posted the second-highest net money inflow of RM4.67 million with its share price outperforming the benchmark index at a 2.24% increase for the week.

CIMB Group Holdings Bhd saw RM3.42 million in net inflows as its share price rose 3.61% against the benchmark index.

National power utility Tenaga Nasional Bhd, saw the largest net money outflow of RM28.41 million despite its stock price rising 0.83%, underperforming the benchmark index.

Public Bank Bhd posted the second-largest net money outflow of RM15.32 million during the week with its share price gaining 2.5%.

Malayan Banking Bhd saw a net RM12.6 million in outflow last week as the country’s largest banking group’s share price underperformed the benchmark with a 0.84% weekly