PETALING JAYA: Foreign net outflow quickened to a tune of RM905.9 million net of local equities last week versus an outflow of RM270.0 million in the ...
Foreign net outflow quickened to a tune of RM905.9 million net of local equities last week versus an outflow of RM270.0 million in the preceding week.
“In comparison with the other six Asian markets we track, Malaysia still has the fourth smallest foreign net outflow on a year-to-date basis,“ the research house said in its fund flow report today. On Tuesday, the foreign net outflow increased to RM220.2 million which was coincided with the announcement of Malaysia’s unemployment rate increased to 5.3% in May from 5% in April, reflecting the economic fallout from the movement control order.
Nonetheless, foreign investors remained in riskoff mode amidst the surging coronavirus cases globally, deteriorating US-China relationship, and weaker-than-expected retail sales in China, as well as the detention orders on Top Glove’s shipments by the US Custom Authority.
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