Net foreign selling of Malaysian equities at RM1b in 4 da

Posted by Trading Advisor on 7:33 PM with No comments
KUALA LUMPUR: Foreign funds continued to sell down their stakes in Malaysian equities in the four days ended Jan 15, pushing the total net selling to rise to RM1.045bil, according to BIMB Securities Research.
It said on Friday net foreign outflow was RM336.7mil Thursday but it “expects the FBM KLCI to remain firm and expect foreign funds outflow to trickle down following the heightened volatility in Eurozone”.
BIMB Research said foreign funds continued to ignore Malaysia equities despite the 2.99 points gained on Thursday to close at 1,745.  However, local funds were net buyers at RM300.1mil and retail investors net buyer also at RM36.6mil.
Overnight on Wall Street, investors sold down on some disappointing earnings from the banks as the DJI Average lost another 106.38 points to 17,320.71 or almost 420 points during the course of this week.
European markets were mostly higher attributed to a rebound in commodity prices. Nonetheless, all eyes were on Switzerland following the Swiss National Bank’s move to scrap its euro cap on the franc. In Asia, equities were slightly firmer amid the global volatility as foreign funds seeped into the region.