Foreign funds net sellers at RM108.9m in week ended Nov 28
KUALA LUMPUR: Foreign funds continued to reduced their shareholdings in Malaysian equities, with net selling rising to RM108.9mil in the week ended Nov 28, according to MIDF Equities Research.
In its fund flow report issued on Monday, the research house said Malaysia continued to miss out on the big money flow currently being experienced in broader Asia.
“The prospect for a strong window dressing in December is dimming,” it said.
MIDF Research said for the fourth consecutive week, investors classified as foreign offloaded Malaysian equity in the open market (that is excluding off-market deals). Last week, the amount sold on Bursa exceeded -RM100mil again at -RM108.9mil net, compared with -RM141.6mil sold the week before,” it said.
MIDF Research said foreign portfolio investors were net sellers every single week in November. For the month, foreign investors sold -RM307.5mil.
“For the year to November, the net outflow was -RM4.0bil, already exceeding the +RM3.0bil net inflow in 2013,” it said.
MIDF Research said there was relatively heavy selling on Friday, as foreigners sold -RM111.4mil. That was the heaviest outflow in 27 trading days.
The selldown by foreigners is still taking place amid moderate volume. However, foreign participation rate picked up last week although it was still below RM1bil. Daily average gross purchase and sale amounted to RM972mil, the highest in five weeks.
“We would be wary of any pick-up in activity while the prevailing sentiment is negative,” it said.
MIDF Research said on a slightly positive note, the retail market has been supporting the market, mopping up shares for the fourth week running.
Retailers bought +RM12mil last week, and had purchased +RM276mil in the last four weeks. However, the buying was passive, as participation rate was only RM737mil.
“Only those with holding power appear to be in the market,” it said.
“Local institutions supported the market slightly last week, buying +RM96.9m net. However, participation rate stayed below RM2bil at only RM1.97bil. The prospect for a strong window dressing in December is dimming,” it said.
http://www.thestar.com.my
KUALA LUMPUR: Foreign funds continued to reduced their shareholdings in Malaysian equities, with net selling rising to RM108.9mil in the week ended Nov 28, according to MIDF Equities Research.
In its fund flow report issued on Monday, the research house said Malaysia continued to miss out on the big money flow currently being experienced in broader Asia.
“The prospect for a strong window dressing in December is dimming,” it said.
MIDF Research said for the fourth consecutive week, investors classified as foreign offloaded Malaysian equity in the open market (that is excluding off-market deals). Last week, the amount sold on Bursa exceeded -RM100mil again at -RM108.9mil net, compared with -RM141.6mil sold the week before,” it said.
MIDF Research said foreign portfolio investors were net sellers every single week in November. For the month, foreign investors sold -RM307.5mil.
“For the year to November, the net outflow was -RM4.0bil, already exceeding the +RM3.0bil net inflow in 2013,” it said.
MIDF Research said there was relatively heavy selling on Friday, as foreigners sold -RM111.4mil. That was the heaviest outflow in 27 trading days.
The selldown by foreigners is still taking place amid moderate volume. However, foreign participation rate picked up last week although it was still below RM1bil. Daily average gross purchase and sale amounted to RM972mil, the highest in five weeks.
“We would be wary of any pick-up in activity while the prevailing sentiment is negative,” it said.
MIDF Research said on a slightly positive note, the retail market has been supporting the market, mopping up shares for the fourth week running.
Retailers bought +RM12mil last week, and had purchased +RM276mil in the last four weeks. However, the buying was passive, as participation rate was only RM737mil.
“Only those with holding power appear to be in the market,” it said.
“Local institutions supported the market slightly last week, buying +RM96.9m net. However, participation rate stayed below RM2bil at only RM1.97bil. The prospect for a strong window dressing in December is dimming,” it said.
http://www.thestar.com.my
