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Monday, 30 April 2018

Malaysia was the only beneficiary of inflows have also attracted the comeback of foreign funds and also, foreign participation remained robust.


Malaysia: Foreign inflows into stocks listed on Bursa Malaysia took a breather last week but marked its fourth week of inflows, with net amount acquired amounted to RM24.6 million, said MIDF Research.
The foreign inflows last week marked the longest streak since the week ended December 29, 2017 to February 2, 2018.
MIDF said it was a modest start to the week as foreign investors bought RM35.9 million net of local equities on Monday. However, panic conquered markets on Tuesday fueled by worries of increasing US Treasury yields could prompt more outflows from emerging markets.
As a consequence, global funds withdrew RM191.4 million net of equities on Tuesday, the highest since March 28.
MIDF said the FBMKLCI followed suit to decline the most in two weeks by 0.8 per cent on the same day.
It said although concerns on rising US Treasury yields continue to linger, attrition on Bursa Malaysia gradually receded thereafter until RM9.2 million net on Thursday, buoyed by stable crude oil prices.
MIDF said global investors returned strongly to Malaysia on Friday, snapping up RM277.3 million net while the FBMKLCI was back above 1,860 points after two days remaining below that level.
“Among the four Asean exchanges we track, Malaysia was the only beneficiary of inflows that day. We opine that investors took cue from the positive vibes of the meeting between the two Koreas which also attracted the comeback of foreign funds into North Asia, namely South Korea and Taiwan,” it said.
MIDF said with only one-trading day left, April is set to be the first month of inflows since January 2018 as the month-to-date figure shows an inflow of RM1.26 billion net, bringing the year-to-date inflow of RM3.46 million net.
MIDF said foreign participation remained robust as the average daily trade value (ADTV) stood above the RM1 billion level for the 16th week this year.
The retail market meanwhile took a hit as its Average Daily Trading Volume (ADTV) reached the lowest in 10 weeks at RM772.8 million.
During the week, Genting Malaysia Bhd registered the highest net money inflow of RM27.42 million, followed by Tenaga Nasional Bhd at RM9.55 million and British American Tobacco Bhd at RM9.48 million.

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