KUALA LUMPUR, July 12 — International investors disposed of RM212.1 million net of local equities in the period of July 6 to July 9 (Monday-Thursday), down from the net outflow of RM339.4 million in the whole of last week. Bank Islam Malaysia Bhd...
An investor monitors the stock prices in the gallery of the RHB Investment Bank Bhd headquarters in Kuala Lumpur March 17, 2020. ― Picture by Hari Anggara
"The rally in the FBM KLCI on Monday was in line with other regional bourses, which picked up steam as investors were anticipating a revival in global economic growth supported by the rebound in Chinese economic activity," Adam told Bernama. He said the projections were subject to Malaysia’s continued success in managing COVID-19, as well as in steering and nurturing the economy towards recovery and growth.
"Although there was fear of a second wave of the Covid-19 pandemic, the market was supported by interest in glove makers, which would benefit more from their capacity expansion plans," Adam explained. Bursa Malaysia Bhd chief executive officer Datuk Muhamad Umar Swift said the local stock market saw a stronger participation from retail investors recently compared to a year ago, particularly in cash investment.
Among other corporate developments during the week was AirAsia Group Bhd’s disclosure of a net loss of RM803.85 million for the first quarter ended March 31, 2020, compared with a net profit of RM96.09 million a year earlier. It was reported that LS wanted the United States to block imports of SDP’s palm oil and palm oil products based on allegations of forced and child labour by SDP-owned and affiliated companies.
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