Foreign investors remain net sellers of Malaysian equities for sixth week

KUALA LUMPUR, July 18 — Bursa Malaysia continued to see foreign fund outflow last week, making it the sixth consecutive week, but its value reduced to RM28 million during the shortened trading week due to Aidiladha replacement holiday on Monday as compared with net outflow of RM120.55 million in the previous week.

“Local retailers maintained their net buying spree for the sixth week, totalling RM53.1 million. They bought RM72.5 million net on Tuesday and Wednesday before net selling worth RM19.5 million over the next two days,” it said. In terms of participation, there was a decline in the average daily trade value among all investor classes. Retail investor saw a decline of 26.26 per cent while the ADTV for institutional and foreign investors decreased by 25.51 per cent and 25.94 per cent, respectively.

Globally, MIDF Research said global markets were hit by gloomy sentiments last week, reversing the rally seen in the previous week as inflation jitters returned to spook investors with a 41-year high consumer price index in the US, on top of disappointing second-quarter US corporate earnings thus far, as announced last week.

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