![\"outflow\"](\"https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/08\/6cc4892e35ec9719cc16d159b943f7e65f4b1e1e06de7-1024x557.jpg\")
<\/figure><\/div>\n\n\n\nOn Tuesday, foreign net selling remained high at RM116.2 million despite news of American biotechnology company Moderna Inc\u2019s plan to provide 80 million doses of its experimental COVID-19 vaccine to the European Union, as well as the United States (US) and China\u2019s move to reaffirm their commitment to the phase-one trade deal.<\/p>\n\n\n\n
On the domestic front, the positive news regarding the COVID-19 vaccine triggered\u00a0some profit-taking in glove counters such as Top Glove and Hartalega, resulting in both counters contracting\u00a0by more than 5.0 percent on the same day, Adam said.<\/p>\n\n\n\n
However,\u00a0foreign investors made a modest return to Bursa Malaysia on Wednesday as they bought RM1.9 million net of local equities, snapping the five consecutive days selling spree.<\/p>\n\n\n\n
In contrast, regional peers such as the Philippines and Indonesia markets experienced foreign net outflows for the day as investors took the cue from the\u00a0lackluster Wall Street, following talks between the US and China on the status of a deal meant to work as a truce in their trade war.<\/p>\n\n\n\n
On Thursday, foreign net selling resumed at RM135.2 million.<\/p>\n\n\n\n
\u201cSentiment was dampened after mainland China fired four missiles into the disputed South China Sea, which Beijing has claimed as its sovereign territory, but considered an international waterway by the US and other nations,\u201d Adam said.<\/p>\n\n\n\n
Additionally, he said investors had waited for the US Federal Reserve Board (Fed) chairman Jerome Powell\u2019s address which highlighted the Fed\u2019s new strategy of allowing inflation and employment to run higher in a shift that would likely keep interest rates low for years to come.<\/p>\n\n\n\n
Meanwhile, year-to-date (YTD), Malaysia has seen a foreign net outflow of RM20.2 billion (or US$4.7 billion).<\/p>\n\n\n\n
Compared with its ASEAN peers, Malaysia has the second largest foreign net outflow after Thailand, which registered a YTD foreign net outflow of US$7.7 billion, Adam added.<\/p>\n\n\n\n
On Friday, Prime Minister Tan Sri Muhyiddin Yassin announced that Malaysia’s economy has started to show positive signs of a recovery following the gradual reopening of businesses.<\/p>\n\n\n\n
He also said that the government has decided to extend the Recovery Movement Control Order until Dec 31, 2020.<\/p>\n\n\n\n
— BERNAMA<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" KUALA LUMPUR, Aug 30 \u00a0— Foreign investors continued to offload Malaysian equities in the Aug…<\/p>\n","protected":false},"author":1,"featured_media":5717,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,524],"tags":[],"class_list":["post-5716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-nation"],"featured_image_urls":{"full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/08\/6cc4892e35ec9719cc16d159b943f7e65f4b1e1e06de7.jpg",1066,580,false],"thumbnail":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/08\/6cc4892e35ec9719cc16d159b943f7e65f4b1e1e06de7-150x150.jpg",150,150,true],"medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/08\/6cc4892e35ec9719cc16d159b943f7e65f4b1e1e06de7-300x163.jpg",300,163,true],"medium_large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/08\/6cc4892e35ec9719cc16d159b943f7e65f4b1e1e06de7-768x418.jpg",640,348,true],"large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/08\/6cc4892e35ec9719cc16d159b943f7e65f4b1e1e06de7-1024x557.jpg",640,348,true],"1536x1536":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/08\/6cc4892e35ec9719cc16d159b943f7e65f4b1e1e06de7.jpg",1066,580,false],"2048x2048":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/08\/6cc4892e35ec9719cc16d159b943f7e65f4b1e1e06de7.jpg",1066,580,false],"newsium-slider-full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/08\/6cc4892e35ec9719cc16d159b943f7e65f4b1e1e06de7.jpg",1066,580,false],"newsium-featured":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/08\/6cc4892e35ec9719cc16d159b943f7e65f4b1e1e06de7.jpg",1024,557,false],"newsium-medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/08\/6cc4892e35ec9719cc16d159b943f7e65f4b1e1e06de7.jpg",720,392,false]},"author_info":{"info":["Editor"]},"category_info":"Economy<\/a> Nation<\/a>","tag_info":"Nation","comment_count":"0","_links":{"self":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/5716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5716"}],"version-history":[{"count":1,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/5716\/revisions"}],"predecessor-version":[{"id":5718,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/5716\/revisions\/5718"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/media\/5717"}],"wp:attachment":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}