KuALA LUMPUR: International investors sold RM326.0 million net of local equities last week, marking eighth week of outflow, consecutively.

This was compared to RM486.0 milllion net disposed in the preceding week, MIDF Research said.

In comparison to its other six Asian peers tracked by MIDF Research, Malaysia remained as the nation with the third smallest foreign net outflow on a year-to-date (YTD) basis.

The YTD foreign outflow from Malaysia came to RM8.45 billion.

MIDF said international funds sold RM66.5 million net last Monday, a level deemed contained as new cases of Covid-19 appeared to slow in the US and Europe including France and Italy.

Foreign investors made a modest return to Bursa Malaysia on Tuesday by snapping up RM2.40 millon net of local equities as investors digested the additional RM10 billion assistance package targeted at small and medium enterprises (SMEs).

The foreign net buying on Tuesday lifted the local bourse by 2.1 per cent to a three-week high of 1,369.9 points.

However, the foreign net selling peaked during the week on Wednesday at RM136.9 million as cautiousness drove sentiment after the daily coronavirus death tolls in the US and UK reached their highest levels.

The level of foreign net selling nevertheless shrank to RM36.3 million on Thursday, the lowest in a day since mid-February this year.

Thursday’s optimism was driven by hopes that the outcome of the meeting between OPEC members and its allies will help support crude oil prices.

Friday then saw a foreign net outflow of RM88.7 million, coinciding with the announcement of the movement control order being extended to April 28, 2020.

“The risk-off sentiment was also sparked by the smaller-than-expected quantum of oil output cuts agreed by the OPEC and its allies,” it said.

MIDF Research said the average daily traded value (ADTV) of foreign investors declined 23 per cent to RM975 million.

Retail and institutional investors saw a weekly increase in ADTV by 15 per cent and five per cent respectively, it added.

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