KUALA LUMPUR: Foreign funds continued to remain net sellers exiting Bursa Malaysia last week, with the amount of outflow amounted to RM444.92 million from Monday to Thursday.
This was, however, less than the amount in the corresponding period of the previous week of RM445.35 million.Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said there seems to be a risk-off mode in light of the recent spike in the number of new COVID-19 infections in the US.
Mohd Afzanizam said the main worry would be that it may derail the reopening of the economy which has been taking place since May. He said the benchmark FTSE Bursa Malaysia KLCI has corrected quite significantly, given that it has fallen below the 200-day moving average.
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