The volatile stock market has seen foreign funds stepping up their selling of stocks on Bursa Malaysia, with the net selling rising to –RM269.2mil on Thursday.
BIMB Securities Research said the FBM KLCI closed down 14.87 points or 0.86% to 1,716.81 on Thursday with heavy selling on Tenaga Nasional and telco stocks.
Trading participation saw net selling by foreign institutions and local retail while local institutions were net buyers.
“We expect the local market to remain negative today due to continuous selling pressure by foreign institutions and dampened global sentiment over Greece’s debt issue with immediate support at 1,710 followed by the critical level of 1,700,” it said.
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BIMB Securities Research said the FBM KLCI closed down 14.87 points or 0.86% to 1,716.81 on Thursday with heavy selling on Tenaga Nasional and telco stocks.
Trading participation saw net selling by foreign institutions and local retail while local institutions were net buyers.
“We expect the local market to remain negative today due to continuous selling pressure by foreign institutions and dampened global sentiment over Greece’s debt issue with immediate support at 1,710 followed by the critical level of 1,700,” it said.
Click Here To Register For Free Trial Services OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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