After 4 weeks of buying, foreigners selling again in Bursa Malaysia

After four successive weeks of foreign buying, Bursa Malaysia once again returns to the red in the terms of foreign flows.

According to MIDF Research, based on preliminary data from Bursa which excluded off market trades, the net amount sold by foreign investors on Bursa last week was recorded at RM38.2 million.

However, this was still lower than the RM297.1 million net amount sold in the week ended Nov 17.

The research house said since Nov 16, foreign investors were net sellers in two out of five trading days, with net selling reaching as high as RM143.9 million on Tuesday.

But the trend is in tandem with other Asian markets such as Thailand, India, Taiwan and the Philippines, it said.

MIDF Research said the cumulative year-to-date inflow has now decreased from RM10.20 billion to RM10.16 billion.

It added, out of 51 weeks so far, there has been 17 weeks of foreign selling, compared to over 20 weeks in 2016.