The week ending August 11 saw the Malaysian equities market down by RM63.1 million as foreign funds trimmed holdings amidst heightening political tensions in the country according to MIDF Research. The outflow coincided with the KL Composite dropping below 1,770 points as the Ringgit fell to a one-month low. This however was also reflected in losses around the region including Korea, Indonesia and Taiwan.
“Foreign funds were net sellers in three out of five trading days. Foreign selling peaked on Friday as foreigners disposed RM93.5mil net, the highest in a day since July 5,” said MIDF in its report. Compared to the cumulative YTD inflow, the retreat reflected little on an influx of RM10.7 billion net as compared to RM10.8 billion the preceding week.
The foreign average daily trade value (ADTV) saw a decline of 31% from RM895mil in the prior week to RM615mil, the lowest it has been since the beginning of this year. On an upside, Retail ADTV stayed above the RM800 million level.
Highest gainers on the market included British American Tobacco which was up by RM27.91million, F&N with RM5.84 million and MyEG Services at RM4.13 million. Top losers were Tenaga Nasional Bhd with a drop of RM38.09 million, Maybank with RM15.89 million and Sime Darby at RM12.96million.