#MIDF Research market sentiment; highest net #inflow; 31 % net #outflow

Malaysia: Foreign selling returned to Bursa Malaysia at a rather intensified level for the week ended November 17 compared to the amount disposed in the past six weeks that did not exceed RM100 million net.

According to MIDF Research's weekly fund flow report, international investors dumped RM297.1 million net of Malaysian equities last week, the highest weekly attrition recorded in seven weeks.

It said foreign buyers exactly matched foreign sellers on Monday.

A bout of acquisition then took place on Tuesday where foreign investors bought RM181.3 million net, the highest net inflow in a day in almost five months. This was despite the weak China industrial output data that coincided with the 0.22 per cent dip in Bursa's key FBM KLCI index.

However, it said foreign investors were back in selling mode thereafter until the week ended with Thursday recording the highest amount sold at US$282.1 million net.

"The heavy foreign buying on Thursday saw the FBM KLCI close at an eight-month low of 1,718 points ahead of the House of Representatives' vote for a tax cut bill," it said.

MIDF Research said market sentiment improved later on Friday following the strong third quarter 2017 gross domestic product which climbed 6.2 per cent that saw a 0.21 per cent rebound in the FBM KLCI.

It said foreign selling still occurred on the same day but on a reduced level below RM100 million net.

"By virtue of the intense foreign selling last week, the cumulative year-to-date inflow has substantially decreased to RM9 billion from RM9.31 billion in the week before.

"Nonetheless, the year-to-date inflow still offsets approximately 31 per cent of the total net outflow from 2014 to 2016," it said.

MIDF Research said foreign participation was back on its feet as the foreign average daily trade value (ADTV) surged by 27 per cent to RM1.13 billion after three weeks of staying below the RM1 billion mark.

In contrast, the retail ADTV decreased by eight per cent to settle below the RM1 billion level at RM957 million.

Among the top net money inflows last week are CIMB Group Holdings Bhd, which saw net money inflow of RM12.11 million, Genting Plantations Bhd, which recorded the second highest net money inflow of RM5.91 million, and Heineken Malaysia Bhd, which saw a net inflow of RM4.07 million.

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