KUALA LUMPUR: Foreign funds remained in selling mode, offloading about RM500mil during the election-shortened week, according to MIDF Research. “Based on preliminary data from Bursa which excluded off market deals, the net amount withdrawn by foreign investors on the two trading days amounted to RM504.8mil net, exceeding the RM438.4mil in the preceding week,” MIDF said in its weekly fund flow. MIDF said Malaysia also remained as the largest beneficiary of inflows among the four Asean markets that it track. “The outflows on these two days extended the foreign selling spree from last week to five days, the longest since February 2018. “In the long run, we expect that foreign investors will return to Malaysia as Pakatan Harapan gradually works on its promises made during GE14,” MIDF said.

Source: The Star May 14, 2018 02:26 UTC