Foreigners offload local equities worth RM1.53bil as volatility persists

Local support: A file picture showing an investor tracking stock prices at a brokerage. Mohd Afzanizam says Bursa Malaysia was well-supported by local institutions and retail investors last week. - Sin Chew

KUALA LUMPUR: Foreign investors continued to offload Malaysian equities last week, taking out a whopping RM1.53bil from last Monday to last Thursday, compared with a RM1.43bil outflow seen between March 9 and 12, as volatility persists.

Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said with the Chicago Board Options Exchange’s Volatility Index (VIX) surging to a high of 85.47 points recently no thanks to COVID-19 jitters, the “fear gauge” has surpassed the level during the 2008 global financial crisis.