Malaysia: Malaysia has outpaced most of its Southeast Asian
peers in being the beneficiary of net inflow of foreign funds, MIDF Research
said.
Despite
Indonesia following closely between March and May, its trend has been on the
reverse of late, the firm added.
Foreign
funds had been net buyers in 26 out of the 31 trading weeks so far this year,
MIDF Research said in a report today.
The
aggregate net inflow of foreign funds in the first six months of this year
amounted to RM10.17 billion. This cumulative net inflow offsets about 30 per
cent of the total net outflow recorded in 2014-2016.
MIDF
Research said while the numbers had been tapering for Malaysia the past month,
the country is still in a very strong position, with the cumulative net inflow
nearing US$2.5 billion mark.
Out
of the total net inflows in the first half of 2017, which amounted to about
RM10.2 billion net, major beneficiaries consist mainly of banking, oil and gas,
and gaming related stocks.
Optimism
on the banking counters was underpinned by earnings growth, MIDF Research said.
Among
the favourites, CIMB Group Holdings Bhd, Malayan Banking Bhd and Public Bank
Bhd saw inflows amounting to RM1.7 billion, RM1.43 billion, RM760 million
respectively from the fourth quarter of 2016 to June this year.
Since then, their foreign shareholding levels have been on an
upward trajectory and should improve, MIDF Research noted.
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