US-China trade optimism fails to calm outflow as investors remain on edge. FMTNews Ringgit
KUALA LUMPUR: The ringgit opened flat against the US dollar today despite the optimism over US-China trade talks, as investors remained edgy on the persistent foreign fund outflows on Bursa Malaysia.
At 9 am, the ringgit was quoted at 4.1770/1820 against the greenback from Monday’s close of 4.1770/1800. MIDF Amanah Investment Bank Bhd Research said foreign investors disposed of RM187.2 million net of local equities last week compared to RM408.5 million net sold in the preceding week. The foreign selling made the year-to-last Friday’s foreign fund outflow amounted to RM9.17 billion, making up 78.4% of last year’s total foreign outflow of RM11.69 billion, the research house said in a note today.
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