The Malaysian Reserve

National Day week posts lowest foreign outflow

Total foreign net outflow for the month of August dipped to RM97.4 million, compared to the previous year’s RM1.6 billion, which marks the fourth consecutive month since May 2018, that foreign selling has been on the downward path (Pic: TMR)

By NUR HAZIQAH A MALEK / Pic By TMR

Foreign investors recorded the lowest net outflow of RM15.3 million for the year last week.

Total foreign net outflow for the month of August dipped to RM97.4 million, compared to the previous year’s RM1.6 billion, which marks the fourth consecutive month since May 2018, that foreign selling has been on the downward path.

Year-to-date outflow as at last Friday was at RM8.6 billion.

According MIDF Amanah Investment Bank Bhd’s report yesterday, for seven weeks in running, foreign investors have remained active and the weekly average daily traded value (ADTV) was 7.7% higher at RM1.24 billion.

The retail market saw its ADTV rose 2.6%, while the local institutional funds saw its ADTV rose 11.2%.

Public Bank Bhd registered the highest net money inflow for the week sweeping RM24 million. Its share price also outperformed 0.88% more compared to the FTSE Bursa Malaysia KLCI which rose 0.61%.

Genting Plantation Bhd saw its share price marginally fall 0.21%, but it racked in a net inflow of RM7.13 million.

IHH Healthcare Bhd on the other hand, posted a 0.71% decrease in share price and an inflow of RM6.85 million.

Petronas Chemicals Group Bhd, MyEG Services Bhd and Axiata Group Bhd earned the highest net outflow yielding RM31.92 million, RM5.76 million and RM5.06 million respectively.