Foreign funds continue net selling of Malaysian stocks for sixth week

📆 07/04/2024 09:08 p. m.
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MIDF,Bursa Malaysia,Fund Flow

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KUALA LUMPUR: The net outflow of foreign funds from Bursa Malaysia continued into its sixth week with RM336.mil net sales, its longest selling streak since a 12-week sell-off in mid-2023.

Risk appetite for equities fell over the past week as US March jobs data showed more worker hires and growing wages, suggesting the world's largest economy remained in rude health and further weakening the case for interest rate cuts.

Local institutions, however, continued to pick up Malaysian equities for a sixth straight week with a net purchase of RM557.4mil.MIDF said the average daily trading volume declined across all investor classes last week. "Foreign investors saw a dip of –15.7% while retail and institutional investors saw declines of –0.5% and –1.8% respectively," it said.

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