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NewsForeign buying of Malaysian equities at net RM328.8m
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Foreign buying of Malaysian equities at net RM328.8m
by Cals Tue 08 Oct 2013, 01:33
Published: Monday October 7, 2013 MYT 11:46:00 AM
Updated: Monday October 7, 2013 MYT 1:18:33 PM
Foreign buying of Malaysian equities at net RM328.8m
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KUALA LUMPUR: Foreign buying of Malaysian-listed equities jumped to a net RM328.8mil in the week ended Oct 4 compared with only RM36.5mil in the week before, according to MIDF Equities Research.
The research house said on Monday the buying bucked regional trend as foreign funds bought almost every day last week, except on Thursday.
“Buying was especially strong on Monday, when net RM251mil was mopped up,” it said in a research note.
MIDF Research said the surplus last week increased the overhang of foreign portfolio capital which entered the Malaysian equity market in 2013 to net RM8.71bil or net US$3.05bil (based on weighted average exchange rates at the point of entry).
“For money which had flowed in since January 2011, we estimate the cumulative overhang to remain at net RM24.3b or net US$8.1bil,” it said.
The research house said local institutions took the opportunity to reduce their equity exposure further. Net sale by local funds amounted to net RM221.3mil, compared with net RM132.8mil the week before. Participation rate is tapering, although it remained elevated at RM1.57bil.
"Retailers appear to be jittery over events in the US opting to offload net RM107.5mil, after nibbling in the market the week before. Participation rate fell to below RM1bil,” it said.
Updated: Monday October 7, 2013 MYT 1:18:33 PM
Foreign buying of Malaysian equities at net RM328.8m
[You must be registered and logged in to see this image.]
KUALA LUMPUR: Foreign buying of Malaysian-listed equities jumped to a net RM328.8mil in the week ended Oct 4 compared with only RM36.5mil in the week before, according to MIDF Equities Research.
The research house said on Monday the buying bucked regional trend as foreign funds bought almost every day last week, except on Thursday.
“Buying was especially strong on Monday, when net RM251mil was mopped up,” it said in a research note.
MIDF Research said the surplus last week increased the overhang of foreign portfolio capital which entered the Malaysian equity market in 2013 to net RM8.71bil or net US$3.05bil (based on weighted average exchange rates at the point of entry).
“For money which had flowed in since January 2011, we estimate the cumulative overhang to remain at net RM24.3b or net US$8.1bil,” it said.
The research house said local institutions took the opportunity to reduce their equity exposure further. Net sale by local funds amounted to net RM221.3mil, compared with net RM132.8mil the week before. Participation rate is tapering, although it remained elevated at RM1.57bil.
"Retailers appear to be jittery over events in the US opting to offload net RM107.5mil, after nibbling in the market the week before. Participation rate fell to below RM1bil,” it said.
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