KUALA LUMPUR: The net amount of Malaysian equities offloaded by foreign investors surged to RM635.8 million last week, up from RM197.3 million the week before.
This was the third consecutive week foreign investors became the net sellers of local equities, MIDF Research said.
The firm said the foreign investors’ selldown peaked on Monday, intensifying to RM225.1 million, the highest since March 14. However, the selldown tapered from Wednesday onwards.
“On cumulative basis, foreign investors remained net sellers of Malaysian stocks this year, and the net outflow as of last Friday increased to RM2.6 billion,” MIDF Research said in its weekly fund flow report yesterday.
Last year, Malaysia reported a net inflow of about RM3 billion.
The firm said foreign participation rate was elevated last week, in contrast to local participation.
Daily average gross purchase and sale surged to RM1.22 billion, the highest in seven weeks.
Local institutions supported the market strongly last week with RM616.6 million acquisitions, it added.