Msia sees biggest weekly equity outflow in over 20 months over political, Covid-19 woes

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NSTbusiness Foreign investors bailed out of Malaysian stocks as they dumped RM1.26 billion worth of equities last week.

The country swore in new Prime Minister Tan Sri Muhyiddin Yassin on Sunday after the shock resignation of Tun Dr Mahathir Mohamad last Monday led to a week of political chaos.

On a monthly basis, February saw foreign net outflows of RM1.97 billion, the largest such selling since Aug 2019, according to data shared by brokerage MIDF citing the stock exchange.Some of the biggest losers in the Feb 24-28 week were Public Bank Bhd, Malaysia Airports Holdings Bhd and energy and marine transportation company Yinson Holdings Bhd.

The top gainer was Top Glove Corp Bhd, the world’s biggest glove maker that is seeing a massive demand for its products due to the spread of the virus. On Sunday, Malaysia reported four new cases of coronavirus, bringing the total number of infections in the country to 29. - Reuters

Source: News Formal (newsformal.com)

 

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What la Moo should inspire confidence for foreign investors. Oops. Maybe Azmin or Pas got them frightened. Haha 🤣

good job bontothole AzminAli

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