net selling ends after 9 weeks


The nine weeks of foreign net selling ended as investors increased their exposure on stocks listed on Bursa Malaysia as funds mopped up RM25.5 million net of local equities last week.

According to MIDF Amanah Investment Bank Bhd’s strategy report, the highest daily foreign net inflow in nearly a month was recorded last Friday.

“Foreign investors gradually increased their holdings on stocks listed on Bursa there-after until the foreign net buying level reached RM106.7 million last Friday itself,” it said.

Much of the support came from the progress in the US-China trade relations and the advance in Brent crude oil prices amid growing optimism over OPEC production.

“So far in 2019, foreign funds bought RM7.2 million net of local equities,” the report stated.

MIDF said, compared to two Asean nations, namely the Philippines and Indonesia, Malaysia has the lowest foreign net inflow on a year-to-date (YTD) basis.

“On the other hand, Thailand is the only peer posting a YTD foreign net outflow of US$175.7 million (RM720.46 million),” it said.

The participation rate among the various group of investors saw an improvement across the board.

“For instance, the average daily traded value for foreign investors jumped by over 80% for the week to reach RM1.2 billion, the highest in six weeks,” it said.

Among the stocks that posted the highest net money inflows were Kuala Lumpur Kepong Bhd at RM27.88 million, tailed by CIMB Group Holdings Bhd (RM26.72 million).

Stocks posting the highest net money outflows were Hong Leong Bank Bhd with RM16.51 million, followed by Nestlé (M) Bhd (RM12.65 million), Public Bank Bhd (RM11.11 million), VS Industry Bhd (RM8.24 million) and Genting Malaysia Bhd (RM7.86 million).