Foreign funds take long-term stance

Rakuten's Yee said the nature of foreign buying on Malaysian securities appears to be driven by long-term instead of short-term capital.

KUALA LUMPUR: Lower valuations and a weak ringgit are expected to support further buying appetite for local securities including bonds.

Trailing valuations on the benchmark FBM KLCI will continue to be below the average mean of about 17 times, according to Rakuten Trade head of research Kenny Yee.