Bursa records net inflow of RM90.2mil

KUALA LUMPUR: Foreign funds were net buyers with the local bourse recording a total net inflow of RM90.2mil between March 18 and March 21 versus total net outflow of RM472.2mil recorded in the same period in the previous week.

Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said average foreign fund participation ratio between March 18 and March 24 stood at 26.8% versus 24.7% between March 11 and March 14.

“It is somewhat unclear why foreign institutional funds have been gradually accumulating Malaysian equities as the decline in the FBM KLCI was pretty much the outlier as opposed to regional indices,” he told Bernama.

Mohd Afzanizam added that emerging markets fared quite well this week as the statement issued by US Federal Open Market Committee last Wednesday suggested that the US Federal Reserve might pause its interest rate hike and perhaps would be inclined to reduce the Fed Fund Rate at some point in the horizon.

Meanwhile, Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew expected foreign funds to maintain their net buyer position at least for another month, albeit, not aggressively.

Source : TheStar