KUALA LUMPUR – Global investors continued their retreat from Malaysia albeit at a slower pace last week, according to MIDF Research.
“For the week, the net amount sold off by foreign investors was RM48.5mil, based on transactions in the open market, excluding off market deals. This amount was lower than the week before figure of RM63.1mil,” MIDF said in its weekly fund flow report.
The research house said foreign funds were net sellers in two out of five trading days.
Foreign selling peaked on Friday, reaching a six-week high as foreigners disposed RM110.4mil net.
“The attrition on Friday happened amid dampened sentiment following the terrorist attack in Barcelona and the resignation of White House strategist, Steven Bannon.
“The weekly attrition was in line with those seen by regional peers notably, Korea, Indonesia and Taiwan,” MIDF said.
Last week’s foreign attrition brings the total attrition this year to seven. The cumulative year-to-date inflow still stands at RM10.7bil
net despite two consecutive weeks of attrition.
Foreign participation rate continued to decline for the week. The foreign average daily trade value (ADTV) remained slightly above RM600mil but the decline was very small, only dipping by 1%.
Retail participation was resilient as the retail ADTV only decreased by 6% from RM882mil to above RM830mil last week, marking its third consecutive week of being above RM800mil.
For the week ended Aug 18, Syarikat Malaysia Takaful stocks were the beneficiary of the highest net money inflow of RM1.87mil.
The second highest net money inflow beneficiary was Maybank, amounting to RM1.57mil while Berjaya Sports Toto saw the third highest net money inflow of RM1.20mil.
Seprately, Public Bank saw the largest net money outflow of RM6.52mil last week.
Tenaga Nasional Bhd recorded the second largest net money outflow RM3.02mil and DRB-Hicom registered the third largest net money outflow at RM2.39mil.