Sunday, 23 Aug 2020 11:14 AM MYT
For the holiday-shortened week from Aug 17-19, local institutions recorded a net buy of RM216.6 million compared with a net sell of RM920.0 million for the whole of the previous week. “Risk-on appetite was mainly fuelled by the liquidity measures announced by China. The People’s Bank of China added US$101.0 billion of one-year funding via the medium-term lending facility to support banks amid intensifying liquidity stress and keeping a fragile economic recovery on track,” he said.
Adam said the pace at which international funds were selling local equities accelerated to RM180.3 million net on Wednesday as foreign investors cashed in gains ahead of the public holiday on Thursday. “The local bourse followed suit to settle 0.2 per cent lower at 1,575.4 points on the same day,” he noted.
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