Foreign funds selling on Bursa Malaysia tapered to RM87.9mil last week during the holiday-shortened week, slowing down from RM1.13bil net selling a week earlier.
“The momentum of foreign net selling on Bursa substantially slowed down last week.
“Based on data from Bursa, international investors sold RM87.9mil net of local equities last week, the lowest in 11 weeks,” MIDF said in its weekly fund flow report.
For the month of April 2020, the research house noted that offshore investors took out RM2.67bil net of local equities, more than half of what was sold in the preceding month.
“In comparison to its other six Asian peers that we monitor, Malaysia remains as the nation with the third smallest foreign net outflow on a year-to-date basis after Indonesia and the Philippines.
“The year-to-date foreign outflow from Malaysia came to RM10.30bil,” MIDF added.
Bursa began the week on a gloomy note as foreign investors pulled out RM115.8mil net of local equities.
MIDF said foreign net selling activity dipped on Tuesday to RM95.4mil while Wednesday saw a massive drop in foreign net outflow to RM800,000.
“Tables were turned on Thursday, the last trading day of April as foreign investors scooped up RM124.5mil net of local equities,” it said, adding that the local bourse followed suit to gain 2.0% higher, settling above 1,400 points.
In terms of participation, foreign investors saw a 9.4% weekly decline in its average daily traded value (ADTV), the largest amongst other investor groups.
Nevertheless, the absolute ADTV of foreign investors remained healthy above the RM1bil mark.
Last week, MISC BHD registered the highest net money inflow of RM12.76mil last week.
HONG LEONG BANK BHD recorded the second highest net money inflow of RM4.39mil while British American Tobacco Berhad saw the third highest net money inflow of RM4.10mil.
On the other hand, Tenaga Nasional Bhd saw the largest net money outflow of RM8.44mil last week.
Top Glove Corp Bhd recorded the second largest net money outflow RM6.24mil and IHH HEALTHCARE BHD registered the third largest net money outflow of RM4.94mil.