Malaysia records RM1.4bil in foreign investment in July 2023, says Bursa chairman

JOHOR BARU: Malaysia recorded a total of RM1.4bil in foreign investment flow in July this year, says Bursa Malaysia chairman Tan Sri Abdul Wahid Omar.

The positive sentiment had also caused the FBM KLCI to rise 6% to 1,459 points as of July 31 this year.

"The first half of this year is very challenging, where the FBM KLCI dropped 7.9% from 1,495 points earlier this year to 1,377 points on June 30.

"Some of the causes are due to the outflow of portfolio investment from the emerging markets to the developed markets caused by the increase in the interest rates of the US Dollar, Euro, and Pound Sterling.

"Bursa Malaysia has recorded an outflow of foreign investment of RM4.2bil for the first half of 2023, compared to the inflow of RM4.4bil in the year 2022.

"But the market sentiment has returned to positive for the second half of this year, where in July this year we recorded RM1.4bil in foreign investment," he added.

He said this during a speech at the Bursa Marketplace Fair 2023 launching ceremony that was officiated by Deputy Finance Minister Datuk Seri Ahmad Maslan at the Persada International Convention Centre here on Saturday (Aug 5).

The market prospect would also be improved with the clarity of economic narrative and strategy followed closely by the National Energy Transition Roadmap (NETR) Phase One and later the New Industrial Masterplan (NIMP), he added.

Bursa Malaysia had also recorded 22 Initial Public Offering (IPO) listings, with a total IPO Market capitalisation amounting to RM16bil as of Aug 3 this year, he added.