The Sun Daily, Photo Credit to The Sun Daily
clock 29-08-2017
hit 932

Foreign Funds Offloaded RM382million Net of Shares on Bursa

General foreign investor activity remained suppressed last week despite a tick-up in trade aggressiveness, according to MIDF Research.


For the week under review, foreign funds withdrew RM382.1 million net based on the transactions in the open market, excluding off market deals. This is the highest weekly attrition for the year.

"Foreign funds were selling for the past six trading days, the longest daily selling streak since December. Outflows gradually tapered during the six-day stretch as ringgit gained traction amid dollar weakness before the Jackson Hole meeting took place" the research house said.

It noted that the weekly attrition was in conformity with those seen by Southeast Asian peers notably Thailand, Indonesia and the Philippines.

"So far, foreign investors have been selling for eight weeks this year but the longest weekly selling stretch is only three weeks in a row. Therefore, a sustained period of selling has not yet been observed" it said.

Despite the largest weekly disposal, MIDF Research said the cumulative year-to-date net inflow still stands above RM10 billion.

It noted that foreign participation rate picked up for the week, with the foreign average daily trade value (ADTV) increasing by 13% from RM611 million to almost RM700 million.

Meanwhile, the research house said retail participation took a cue from the foreign side as retail ADTV increased by 5% from RM830 million to RM870 million last week, marking its fourth back-to-back week of being above RM800 million.




WHAT DO YOU FEEL ABOUT THIS?

0
LOVE
0
HAPPY
0
SURPRISED
0
SAD
0
ANGRY


COMMENTS
Use a Facebook account to add a comment, subject to Facebook's Terms of Service and Privacy Policy. Your Facebook name, photo & other personal information you make public on Facebook will appear with your comment.

SIGN UP NEWSLETTER

logo
Monthly Column
The staple of your property-related materials. It's all about being ahead of the game and with The Column, you get carefully selected information that will keep you informed and running with the pack. The best news, articles and properties on the market from the Property Hunter portal, conveniently wrapped and ready, just for you.

logo
Weekly Window
Your weekly dose of what's hot and what's not in property. The window is your view into the realm of real estate in Malaysia, curated from our portal based on the most popular pieces over the week. For those who just can't get enough, this is for you. Ain't nobody got time for dailies anymore, weekly is the new daily.