Foreign investors mopped up RM382.8 mil last week, says MIDF Research

-A +A

KUALA LUMPUR (Jan 16): Foreign investors mopped up RM382.8 million net last week, the highest since the third week of September, according to MIDF Research Strategy team.

In its weekly fund flow today, the research house said stronger economic data coming out since the new year showed that the Malaysian economy remained stable.

It said these include stronger exports and growth in retail sales (9%year-on-year) and industrial production (6.2% y-o-y), all for November.

“Foreigners were marginal net sellers as the market opened on Monday and Tuesday.

“The selling ended abruptly on Wednesday as foreigners turned net purchasers at RM130 million. The infl ow peaked on Thursday
as foreigners bought RM226 million, the highest since Oct 18, 2016. It receded on Friday, in line with regional trend,” it said.

MIDF Research said of significance was the strong increase in foreign participation.

It said foreign average daily trade value (ADTV) rose to RM848 million, 40% higher compared with that the week before.

It is also nearing last year’s average participation of RM957 million, said the research house.

MIDF Research said local players took the opportunity of foreign buying to clear some position.

“We note that the retail market is currently active, with participation rate the highest since August,” it said.