An explosion of Covid-19 cases, strict lockdowns and political gridlock has made this a difficult year for Malaysia. And now, investors are pulling out of Malaysian stockmarkets.
Foreign ownership of Malaysian equities dropped to an all-time low of 20.2% of total market capitalisation as at end-July 2021 from 20.3% as at end-June 2021 as the country’s combined foreign portfolio outflow, which involves equities and bonds, tripled to about RM5 billion from around RM1.7 billion amid factors including Covid-19 uncertainties and US quantitative easing (QE) tapering anticipation, according to UOB Global Economics & Markets Research's note today.
KUALA LUMPUR: Malaysia recorded an increase in foreign portfolio outflows totalling RM5bil in July as foreign funds continued to reduce their stakes in local equities and debt securities due to local and external factors.
Expect double-digit contraction in 2Q GDP themalaysianreserve.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from themalaysianreserve.com Daily Mail and Mail on Sunday newspapers.
USD/IDR seen within the 14,160-14,300 range – UOB fxstreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fxstreet.com Daily Mail and Mail on Sunday newspapers.