KUALA LUMPUR: FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to remain buoyant over the near term, at least until the Chinese New Year, as foreign investors turned net buyers in the first week of the New Year, reversing their net selling status. FBM KLCI welcomed this year on a positive note with RM101.8 million in net inflow transacted by foreign investors on Bursa compared with an outflow of RM31.2 million in the prior week, said MIDF Research. FBM KLCI, however, closed at 1,667.90 points yesterday on profit- taking activities, 7.59 points lower than Friday’s close. “Foreign investors may choose to shift their investments in the region from China to avoid trade barriers,” CIMB-Principal Asset Management chief investment officer Win Phromphaet told Bloomberg. Meanwhile, analysts said rising commodity prices would also help support the FBM KLCI.

Source: New Strait Times January 10, 2017 06:12 UTC