In Malaysia International investors mopped up RM915.1 million net of local equities in the first week of 2018

Malaysia: International investors mopped up RM915.1 million net of local equities in the first week of 2018, the biggest weekly net inflow recorded since March 2017.

According to MIDF Research, foreign investors were net buyers on all four trading days last week, extending the buying binge to nine trading days from December 22, 2017 to January 5, 2018.

Foreign buying peaked on Thursday as foreign investors snapped up RM316.1 million net, a level not reached since April 28, 2017.

The heavy foreign buying on Thursday coincided with Bursa Malaysia closing above the 1,800 level for the first time in more than 2.5 years which was led by gains in Sime Darby Bhd that surged 11.2 per cent.

MIDF said bullish Brent crude oil price also played a part in sustaining the optimism on Bursa’s Thursday rally.

On Friday, the FBM KLCI continued its ascent to end the week at 1,818 points despite some tapering in foreign funds inflow to RM130.1 million net as risk-on sentiment was boosted by Malaysia’s exports which grew by 14.4 per cent year-on-year in November 2017, highest export value ever recorded for a particular month.

“As we look at the foreign participation, foreign investors appear really active as they have returned back from the year-end holiday.

“The foreign average daily trade value (ADTV) was up by a staggering 127 per cent at RM1.26 billion compared to RM556 million recorded in the final week of 2017.

“The retail market was also vibrant as the retail ADTV increased by 62 per cent from RM1.2 billion in the preceding week to RM1.9 billion last week,” it said.

MIDF said the top three highest net money inflow last week were registered by Sime Darby Bhd at RM5.67 million, CIMB Group Holdings Bhd at RM4.9 million and Sime Darby Plantation Bhd at RM3.37 million.

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