According to MIDF Research (based on data from Bursa Malaysia), foreign investors sold RM249.3 million net of local equities last week, which entailed 25 weeks of foreign net selling so far.
“However, for the month of September, international investors have thus far sold RM335.8 million net, the lowest amongst its ASEAN peers. On a year-to-date basis, international funds have taken out RM7.68 billion worth of local equities from Bursa,” it said in its weekly fund flow report.
It added that the market started on a positive note last week after an extended weekend as international funds snapped up RM56.8 million net on Tuesday, lifting the local bourse 0.2 per cent higher to settle at 1,604.3 points, the highest close in five trading days.