KUALA LUMPUR (May 3): Foreign investors became net sellers of Malaysian shares last week with a net disposal of about RM430.8 million worth of equities.

MIDF Amanah Investment Bank Bhd wrote in its fund flow report today that foreigners became net sellers, after 10 straight weeks of net buys.

“The writings had been on the wall and the buying inevitably came to an end. After 10 consecutive weeks mopping up shares listed on Bursa, foreign investors turned net sellers last week.
 
“The amount sold was RM430.8 million net, the second lowest out of only five weeks that net sale had been recorded this year,” MIDF said.

According to MIDF, foreigners bought and sold RM2.09 billion and RM2.52 billion worth of shares last week.

MIDF said the estimated numbers were based solely on open market transactions.

"For the month of April, foreign buyers added only RM433.9m of Malaysian stocks into their portfolios, after investing a whopping RM6.08b in March.