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KUALA LUMPUR, Malaysia In the penultimate week before the 14th General Election (GE14) of Malaysia, global investors turned net sellers on the country's equities for the first time in four weeks, reported Xinhua news agency. According to MIDF Research ...

GLOBAL INVESTORS TURN NET SELLERS AHEAD OF MALAYSIA’S GENERAL ELECTIONS

KUALA LUMPUR, Malaysia In the penultimate week before the 14th General Election (GE14) of Malaysia, global investors turned net sellers on the country’s equities for the first time in four weeks, reported Xinhua news agency.

According to MIDF Research fund flow report on Monday, foreign investors had withdrawn up to RM438.4 million (US$111.23 million) from Malaysia’s bourse last week.

However, Malaysia remained the only market with inflows among the four ASEAN markets that the research house tracks so far this year, with year-to-date net inflow standing at RM3.02 billion.

The three ASEAN markets are Thailand, the Philippines and Indonesia.

“It seems that foreign investors are shifting to the sidelines earlier than expected before this year’s elections,” said MIDF. Malaysians will go to the polls on Wednesday.

Tracing back to the penultimate week before the 13th General Election (GE13), MIDF said, foreign investors snapped up RM750.4 million net of local equities, and foreign attrition was only seen on the last trading day before GE13 which only amounted to RM91.7 million net outflow.

Indeed, foreign selling was seen across the ASEAN board, with Thailand being the biggest victim of outflows last week in ASEAN, as global investors offloaded net US$355.3 million.

The Philippines registered a third week of dissipating outflows as foreign investors only sold net US$26.6 million last week, the lowest ever so far for the year.

Attrition in Indonesia was cut by almost half to net US$192.9 million.–NNN-BERNAMA

Source: NAM News Network

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