Malaysian market can withstand foreign money exit

KUALA LUMPUR: The Malaysian stock market should be able to withstand the tide of foreign selling by foreign fund managers as the economy is fundamentally strong, according to Kenanga Investment Bank Bhd.

“There is nothing to worry, the exit of foreign investors is part and parcel of market cycles. I do not think there is anything more to it. These are cycles that are normal to the market, as investors will invest and divest, depending on their portfolio rebalancing needs,” Kenanga executive director and head of equity broking Lee Kok Khee said at a briefing.