KUALA LUMPUR, June 5 (NNN-Xinhua) — Foreigners in May withdrew RM5.83 billion (US$1.47 billion) from the Malaysian stock market, the highest monthly outflow this year, said MIDF Research on Monday.
MIDF said in its fund flow report that Malaysian equities experienced the fifth week of foreign selling last week, which was the longest selling binge recorded so far this year.
“With foreign selling on every single day of the week, the selling streak has extended to 19 days, the longest since the 21-day binge in May to June 2015,” said the report.
The heavy selloff was also in conformity with other Asian peers amid the political upheaval in Italy and Spain.
However, the year-to-date foreign outflow from Malaysia stood at 2.12 billion ringgit (530.7 million U.S. dollars), which was still the lowest among the four ASEAN markets that the research house tracked, said MIDF. — NNN-XINHUA
Source: NAM News Network