Foreign funds sell RM438.4mil of Malaysian shares ahead of GE14

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: Global investors turned net seller for the first time in four weeks in the penultimate week before the 14th General Election (GE14), according to MIDF Research.

In its weekly fund flow report, MIDF said the net amount withdrawn by foreign investors last week amounted to RM438.4mil net, the second highest weekly outflow so far this year.