KUALA LUMPUR: Foreign funds stepped up their selling pressure on Bursa Malaysia in the week ended Nov 13 with net selling at -RM714.0mil, with the selling accelerating on the last day at -RM321.5mil, according to BIMB Securities Research.
However, local insitutions and retail players were net buyers during the week. Local funds were net buyers in the week at RM607.9mil and on Friday, it was RM280.1mil.
Retail investors were net buyers in the week at RM106.1mil and RM41.4mil on Friday.
BIMB Research said Wall Street ended negative last Friday, pressured by a continued decline in oil prices and soft reports on the health of the consumer. The Dow closed down about 200 points, with Nike and Home Depot the greatest weights on the index.
The DJIA fell 1.16% to end at 17,245.24 and S&P500 lost 1.12% to 2,023.04 respectively. European equities closed sharply lower on Friday as slumping commodity prices and weak earnings reports continued to weigh on investor sentiment.
In Asia, most of the key indices ended lower as investors remain cautious about the health of China's economy and stock market slammed global asset prices.
"In line with other regional market, The FBM KLCI fell 4.29 points or 0.26% to 1,658.91.
"Trading participation shows net selling by foreign institutions while local institutions and retail were net buyers.
"We expect the local market to trend sideways due to lack of fresh catalysts with the index hovering around 1,655 to 1,660," it said.
Source: http://www.thestar.com.my/Business/Business-News/2015/11/16/Foreign-funds-step-up-selling-on-Bursa-Malaysia/?style=biz
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