Foreign selling on Bursa Malaysia extended into the week ended June 7 2013, which was the second consecutive week, where they were net sellers of RM523.90mil in Malaysian equities. This was in contrast to that unravelling in Thailand and Indonesia, where selling intensified during that week.
However, the intensity of the selldown reduced as the amount was less than the net selling of RM629.5mil in the week ended May 31 2013.
Even after the liquidation in the last two weeks, the overhang of foreign liquidity remained uncomfortably high. So far till 07 June 2013, foreign investors have bought net RM17.5bil or net US$5.8bil net of Malaysian equity in the open market compared with net RM13.7bil (net US$4.5bil) in 2012.
The local retail market remained resilient and active despite some nervousness of late. Retail investors actually snapped up shares last week, with net purchase amounted to net RM67.4mil. This was the highest since November 2013 on active trading. Participation rate stayed above RM1bil for the fifth week running at RM1.2bil.
Local institutional funds supported the market heavily again last week. Local institutional funds bought net RM456.5mil after mopping up net RM633.2mo; the week before.
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