Foreigners sell RM1.89bil of Malaysian stocks, highest since May 18 week

An analyst told Bernama that the macro factors expected to affect the FTSE Bursa Malaysia KLCI next week, includes the Group of Seven(G7) meeting as investors search for clues on the trade outlook, as well as the timing of the next interest rate hike by the US Federal Reserve (Fed) which meets on June 12.

KUALA LUMPUR: Foreign funds ramped up their selling activity last week, marking the eight uninterrupted weeks of outflows, according to MIDF Research.

“Based on preliminary data from Bursa which excluded off market deals, the net amount offl oaded by foreign investors last week stood above the RM1bil level for the fifth time this year at RM1.89bil net,” the research house said in its weekly fund flow report.