Foreign funds sold RM504.8mil on Bursa last 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 remained in selling mode, offloading about RM500mil during the election-shortened week, according to MIDF Research.

“Based on preliminary data from Bursa which excluded off market deals, the net amount withdrawn by foreign investors on the two trading days amounted to RM504.8mil net, exceeding the RM438.4mil in the preceding week,” MIDF said in its weekly fund flow.