KUALA LUMPUR: Foreign funds were net sellers on Bursa Malaysia at –RM219.9mil on Tuesday where the FBM KLCI gave up all its gains for the year and fell to a six-week low.
BIMB Securities Research said on Wednesday local institutions were net buyers at RM150.9mil and local retail investors at RM69mil.
The KLCI fell 22.01 points or 1.28% to 1,692.50 and it was the second worst performer in the region after Jakarta.
“We reckon the local market to trend sideways slight bias to downtrend due to mixed global sentiment and expect the index to trend between 1,690 to 1,695,” it said.
On the external front, European bourses rebounded after the firmer earnings reports, including results from oil giant BP PLC and telecom company Orange SA.
Wall Street ended mixed on mixed earnings and disappointing economic data. The DJIA gained merely 0.07% to end at 17,990.32 and the S&P500 edged up 0.19% to 2,091.70 respectively.
In Asia, stocks ended mixed as investors remained cautious ahead of central bank meetings this week in Japan and the US.
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