Daily Market Report (10 July 2019)
- As advocated by us previously, foreign funds are certainly making a comeback to the local bourse. For June there was a net foreign inflow of RM140.2m and so far July’s net foreign inflow was more encouraging at RM350.7m.
- Though YTD still shows a net foreign outflow of RM4.3bn, we remain confident that foreign funds will seek Malaysia as their preferred destination as the FBM KLCI is currently the worst performer amongst its ASEAN compatriots and is playing catch up.
- We maintain our 2019 target at 1,730 for the FBM KLCI for now.