KUALA LUMPUR, July 19 — International investors disposed of RM637.20 million net of local equities from July 13-16 (Monday-Thursday), more than double the net outflow of RM270.01 million recorded last week. Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said international funds started...
International investors disposed of RM637.20 million net of local equities from July 13-16. — Bernama pic
On Tuesday, foreign net selling accelerated to RM220.2 million, dragging the local bourse down to below 1,600 points. Adam said the geopolitical brawl between the US and China worsened on Wednesday as Trump ordered an end to Hong Kong’s special status with Washington and signed a legislation that would sanction Chinese officials responsible for cracking down on political dissent in the city.
The news triggered a selldown in Top Glove shares which plunged 9.63 per cent, up to 3.30pm when Bursa Malaysia halted trading across the local market, citing technical issues.
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