August 16, 2021

Foreign Investors Lead Net Buyers In RM14 Million Market

 The local market is seen as optimistic after the latest announcement of the easing of movement restrictions for individuals who have completed two doses of the vaccine.

Last week, foreign investors emerged as net buyers after capturing RM14 million net in local equity from RM451.1 million net recorded the previous week.

According to Bank Islam Malaysia Bhd economist Adam Mohamed Rahim, the development surpassed the first weekly net inflow on Bursa Malaysia after seven consecutive weeks of net foreign sales.

He also added that the transaction which started last Monday saw a modest net foreign inflow of RM22 million net.

Although net foreign inflows to the local bourse declined slightly last Thursday, Malaysia's second quarter Gross Domestic Product (GDP) data which recorded an increase of 16.1% year -on -year has re -supported the rise.

This can be seen last Friday where foreign investors returned to buy to record a total inflow of RM31.3 million net of local equity.

To date, international investors have sold RM437.1 million net of local equity during the month, while as of the 2021 market, net foreign sales on the Exchange have reached RM6.0 billion net.