Daily Market Report (30 May 2019)
- The local bourse continues to be hampered by the exodus of foreign funds which has topped RM5.3bn year to date. This was after the RM11.6bn outflow last year.
- As a result, foreign shareholding on the FBM KLCI components has had tumbled from around 17.4% to currently 15.5% which we believe is at one of its lowest level.
- Therefore, though foreign selling may persists, we reckon the pace may be slower going forward. We continue to advocate investors to buy on weakness especially on blue chips.
