Foreign investors reduced their net investment in Malaysian equities by 1.19 billion RM (283 million USD) last week, according to the MIDF Amanah Investment Bank Bhd Research.
After the Malaysian central bank (BNM)’s second overnight policy rate (OPR) cut on March 3, economists said that it will decide to shave off the key rate again and the cut will happen as early as May.
Malaysian Prime Minister Mahathir Mohamad said on May 25 that the Government is looking to attract more foreign investment to foster the national economy and strengthen the ringgit – the local currency.
The Malaysian central bank on March 27 downgraded its forecast for the country’s economic growth this year to 4.3-4.8 percent, from earlier projection of 4.9 percent.
The Malaysian Central Bank on August 17 revised down the country’s growth forecast this year to 5 percent, after its gross domestic product (GDP) in the second quarter came in sharply below its expectation.
The Malaysian economy is on track for 4.5-5 percent expansion this
year as domestic demand holds up and exports recover, according to
Governor Zeti Akhtar Aziz of Bank Negara, Malaysia ’s central
bank.
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