KUALA LUMPUR, Aug 2 — Foreign investors’ net selling of local equities surged last week which saw RM579.6 million net of local equities were disposed of compared to the withdrawal of RM147.8 million net in the previous week.
He said Monday’s sentiment was dampened following a sell-off in China’s equity market on the move by its government to bar for-profit tutoring in core subjects taught at school, hitting the education-linked counters badly. “Investors were awaiting the guidance by the US Fed on any path to taper asset purchases, especially after the US continued to record a higher inflation rate in June this year while the Fed has noted that it expects inflation to be transitory in the previous meetings,” he told Bernama.
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