Foreign investors pull out a staggering RM1.05bil

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: Offshore funds fled Bursa at a rather heightened pace last week, according to MIDF Research.

“Based on preliminary data from Bursa which excluded off market deals, foreign funds withdrew RM1.05bil net of local equities last week, the largest weekly foreign net outflow in 16 weeks.