Foreign funds net buyers at Bursa after four straight weeks of selling — MIDF

-A +A

KUALA LUMPUR (Nov 5): International funds were net buyers of Malaysian shares last week with a net purchase of RM322.7 million worth of equities.

MIDF Amanah Investment Bank Bhd said today in its fund flow report that international funds staged a solid comeback to Bursa Malaysia as they turned net buyers after four straight weeks of selling.

"Based on preliminary data from Bursa which excluded off market deals, foreign funds accumulated RM322.7 million net of local equities last week," MIDF said.

According to MIDF, foreign funds bought and sold RM2.96 billion and RM2.64 billion worth of Malaysian equities respectively last week.

"The year-to-date outflow now stands at -RM9.77 billion, offsetting approximately 95% of last year's net inflow. Notwithstanding this, Malaysia still has the second lowest outflow amongst the four ASEAN markets we monitor," MIDF said.