Foreign funds sold down their shareholdings in Malaysian equities in the week ended Sept 24 with net selling at RM1.268bil
KUALA LUMPUR: Foreign funds sold down their shareholdings in Malaysian equities in the week ended Sept 24 with net selling at RM1.268bil, according to BIMB Securities Research.
It said on Monday foreign net selling was RM202.70mil on Friday.
However, retailers were net buyers in the week at RM145.3mil. Local institutions were net buyers at RM1.123nil.
Last Friday, investors on Wall Street returned mopping up Nike shares as price ended on a record high following its profit which beat expectations.
“Nonetheless, overall tone remains skittish on prevailing uncertainties over US corporate earnings and China’s economic growth. The DJI Average closed at 16,314.67 or 113.35 points higher,” it said.
BIMB Research said in Europe, stocks rebounded following bouts of selling amid the scandal surrounding VW.
Meanwhile Asian markets were rather flat on a downward bias as foreign selling was still persistent.
Locally, the FBM KLCI rebounded from an intraday low of 1,603 to close at 1,615.01 (up 1.84 points) mainly from local buying support.
“We may see some more selling today from the lack of fresh leads with the index again to re-test the 1,600 mark,” it said.
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