KUALA LUMPUR, July 12 — Foreign investors sold RM324.0 million net of local equities last week compared to the disposal of RM499.3 million net in the preceding week, said Bank Islam Malaysia Bhd economist Adam Mohamed Rahim.
The momentum at which foreign investors were disposing local equities accelerated to RM104.3 million net on Wednesday, he pointed out. “The level of foreign net outflow increased further to RM199.5 million net on Thursday, the highest in six trading days,” he said, adding that the sell-off was sparked by a new viral wave of infections in Asia.
“Friday saw a modest return of foreign investors to Bursa as they snapped up RM28.5 million net of local equities, snapping the foreign net selling streak which lasted for almost three weeks,” he said.“However, fears from the virus still conquered the sentiment with the latest number of daily cases reaching 9,180 cases on July 9,” he said.
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