Key highlight for the week is the net buy of RM2.6m by foreign investors, which recovered strongly from a net sell position of RM663.4m in week 36. The market’s positive action on Thursday and Friday resulted in a reversal of total net foreign flow from Wednesday. The ringgit was relatively stable at RM4.14 to USD, which tracked a firmer Brent crude oil prices during the week. To-date foreign selling of Malaysian equities is RM9.3bn.
On the external front, emerging markets were calmer during the latter part of the week, with Turkey’s rate increase to 24% the main focus. The US markets closed high following hopes of new round of trade talks picked up.
China equities continued to be sold down, falling to a 4- year low on Monday. This has resulted in weakness in several Asian stock markets. Malaysian equities may still be affected by US-China trade concerns, which could still impact equity fund flows.
Source: BIMB Securities Research - 18 Sept 2018
Created by kltrader | Aug 12, 2024
Created by kltrader | Aug 12, 2024
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Created by kltrader | Aug 09, 2024