Highlights

Foreign funds net sellers at RM351.6 million

 Publish date: Sun, 17 Nov 2019, 11:35 AM

KUALA LUMPUR: Foreign funds were net sellers at RM351.6 million between Nov 11-14, up from RM44.1 million recorded between Nov 4-7.

Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said this indicates foreign investors were taking a cautious stand on Malaysian equities.

"Issues surrounding the trade discussions between the US and China continued to take centre stage as the progress remained highly fluid," he told Bernama today.

"The latest release on Malaysia's third quarter of 2019 (3Q2019) gross domestic product indicates that the impact from the global slowdown following the ongoing trade war since last year has taken a toll on the country's external demand," said Mohd Afzanizam.

He attributed the lower growth of 4.4 per cent in 3Q2019 from 4.9 per cent in the previous quarter to external uncertainties which contributed to weak business and consumer sentiment domestically.

Apart from that, he said consumer spending, which continued to be the main pillar of domestic growth, had normalised.

Going forward, he said developments behind the trade war between the US and China will remain the main focus for the equities market.

Meanwhile, Mohd Afzanizam said companies' earnings announcements for 3Q2019 should gain further momentum.

The Bursa Malaysia's FBM KLCI settled below 1,600 points this week.

"All in all, it's going to be a tight range for the FBM KLCI next week," he said. - BERNAMA

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VWWong List of countries by GDP (PPP) per hour worked

1 Norway 75.08
2 Luxembourg 73.22
3 United States 67.32
4 Belgium 60.98
5 Netherlands 60.06
6 France 59.24
7 Germany 57.36
8 Ireland 56.05
9 Australia 55.87
10 Denmark 55.75
11 Sweden 55.28
12 Austria 54.83
13 United Kingdom 51.38
14 Canada 50.29
15 Iceland 50.01
16 Switzerland 49.88
17 Spain 49.59
18 Finland 48.79
19 Barbados 46.19
20 Italy 45.04
21 Japan 43.77
22 Singapore 41.46
23 Hong Kong 41.30
24 Trinidad and Tobago 40.04
25 Taiwan 39.97
26 Slovenia 39.78
27 Israel 38.99
28 New Zealand 36.83
29 Malta 36.02
30 Slovakia 33.44
31 Greece 32.77
32 South Korea 32.31
33 Czech Republic 31.23
34 Cyprus 31.18
35 Lithuania 27.53
36 Portugal 27.23
37 Poland 25.81
38 Hungary 24.37
39 Estonia 23.50
40 Turkey 22.83
41 Latvia 21.15
42 Russia 19.70
43 Chile 19.55
44 Saint Lucia 18.58
45 Uruguay 18.16
46 Costa Rica 17.81
47 Bulgaria 16.48
48 Malaysia 16.47
49
22/11/2019 4:01 PM


 

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