Foreign equity outflows dissipating
KUALA LUMPUR: Foreign outflows in the local equities market remain contained and have been gradually dissipating, according to an analyst.
MIDF Amanah Investment Bank Bhd analyst Adam Mohamed Rahim said net foreign selling range remained well below RM200mil from the week starting July 2 until July 13, except for July 6 which saw a high net outflow of RM393.6mil, attributable to the US tariffs imposition on Chinese imports.
For the week just-ended excluding Friday, foreign selling was below RM100mil net, except on Wednesday when the local market saw a net inflow of RM71.7mil.
Hence, the total net foreign selling for the week excluding Friday stood at RM182.5mil compared with RM531.8mil net registered in the previous week, he noted.