Foreign investors sell off RM2.48bil of Malaysia shares; heaviest selldown since August 2013

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 reacted to the unprecedented outcome of Malaysia’s General Election (GE14) by dumping RM2.48bil of local equities last week.

“This is the heaviest weekly selldown in Malaysia since the week ended August 23, 2013 with a net outflow of RM2.90bil. Year-to-date net inflow now stands at RM40.2mil,” MIDF said in its weekly fund flow report.