Foreigners net buyers of local stocks for 21 days

STRONG RUN: Overseas investors have bought RM13.2b year-to-date



FOREIGN investors were net buyers of equities traded on Bursa Malaysia
for 21 consecutive days, with the buying frenzy threatening to
overshadow the current record of 20 weeks of consecutive buying by them.

The foreign funds have been net buyers of local equities for the past
six months, helping them match the the record buying first set between
June 18 and November 2 last year.

Interest by overseas investors has helped to boost the market by more than six per cent this year.

Year-to-date, foreign funds have a net investment totalling RM13.2
billion in the local stock market, which is a huge sum considering that
for 2012, the net investment from the funds was RM13.7 billion.


Financial services group MIDF Investment Research said
in the week before the general election, foreign investors bought
RM750.4 million worth of Malaysian equities in the open market,
excluding off-market deals.

It
said foreign investors were buying every single day last week. Buying
momentum averaged RM150 million a day for the week and exceeded RM200
million last Wednesday and Friday.

Last week also saw foreign
participation rate surge 8.6 per cent with average daily gross purchase
and sale (participation rate) of RM969 million, the highest in three
weeks.