Retail market also tracked the decline in foreign participation. #Outflow RM79.2 Million #Inflow RM18.72 & RM14.79 Million

Malaysia: Global funds have remained net sellers on Bursa Malaysia albeit at a relatively smaller pace for the week ended 10/6.

MIDF Research in a report said selling levels dropped from its highest level recorded so far this year at RM967.3 million in the preceding week to RM82.9 million net last week in the open market which excluded off market deals.

The research house said foreign investors were net sellers on every single day of the week except on Tuesday as foreigners bought RM82.2 million net which coincided with the FBM KLCI's 0.28 per cent advance to 1,761 points after four days of staying below the 1,760 level.

"Interestingly, local institutions cashed in gains the same day, selling off RM60 million net, ending their 11-day buying binge.

"Meanwhile, foreign selling was the highest on Monday with a net outflow of RM79.2 million, which was half of the amount sold in the preceding week's Friday.

"The tapered outflows on Monday snapped FBM KLCI's 10-straight days of losses," it said.

MIDF said overall, the slowdown in foreign sales of Malaysian stocks last week could be attributable to the spillover effect from record gains in Wall Street as President Trump's tax plan makes progress.

It said the cumulative net inflow thus far this year into shares listed on Bursa Malaysia was slightly pulled down to RM9.53 billion from RM9.61 billion in the week before.

"Although the number of weekly attritions has reached 11, the year-to-date inflow still offsets approximately 30 per cent of the net outflows recorded in the past three years," it said.

MIDF said foreign participation took a beating last week as other key Asian markets were shut for the week.

It said the foreign average daily trade value (ADTV) took a huge 40 per cent plunge to RM757 million from RM1.26 billion, the lowest in six weeks.

It said the retail market also tracked the decline in foreign participation as the retail ADTV dropped by 6.2 per cent to RM864 million from RM921 million.

MIDF said IOI Corporation Bhd and CIMB Group Holdings Bhd registered the highest money inflow of RM18.72 million and RM14.79 million, respectively, last week.

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