The net amount of Malaysian equity sold by foreign investors amounts to -RM780.5 million, up 58.2 percent from the week before (-RM493.3 million).

According to a report by MIDF Research’s strategy team, this amounts to a “heavy tide” out of Malaysian equity, which was less evident in other Asian markets.

“Malaysian equity has been subjected to heavy foreign money attrition particularly since the US election.

“Although the pace seems to have slowed down in the prior week, nonetheless the foreign attrition out of Malaysian equity has spiked up again last week,” according to MIDF Research’s weekly fund flow report.

“On a cumulative year to date, the amount of net selling from foreigners has further deepen to RM2.2 billion from a peak of RM6.47 billion in April.

“However, compared to 2015, the outflow amount is still considered low as only RM8.6 billion has been redeemed since April,” it said.

The report said that the flow out of Asian equity was on a “general retreat” for the sixth straight week.

“Nevertheless, the rate of net outflow for the week was markedly lower at less than US$500 million,” read the report.

Previously, it was reported that foreign currency traders were dumping the Malaysian rinngit in favour following uncertainties resulting from Donald Trump’s election victory.