Foreign inflows into Bursa Malaysia hit one-year high, says Najib

Foreign inflows into Bursa Malaysia hit one-year high, says Najib

KUALA LUMPUR,.— Foreign fund inflows into Bursa Malaysia as of last Thursday hit the highest in one year at RM429.80 million, Prime Minister Datuk Seri Najib Razak said.

He said under the Barisan Nasional’s (BN) leadership, the record was successfully achieved despite the dissemination of fake news on the country’s economy.

“The opposition continues to spread fake news on the nation’s economy, foreign investors and fund managers continue to be confident on Malaysia and BN’s economic policies.

“Up to Thursday, the foreign fund inflows into Bursa Malaysia breached the highest in one year, at RM429.80 million,” Najib said in his Twitter account today.

It was reported earlier that the net inflows were 389.35 per cent higher than RM87.83 million recorded on Wednesday.

For the week-to-date, Bursa Malaysia recorded total net inflows of RM560.96 million.

In Asia, Malaysia ranked third after China and India to have received the highest foreign inflows year-to-date at RM3.4 billion.

Najib also said that as at April 13 this year, Bank Negara Malaysia’s international reserves amounted to US$110.0 billion (RM428.8 billion).

According to him, this was another evidence of the confidence in the country’s economic standing and the effectiveness of the BN government’s economic policies.

In a statement recently, the central bank said the US$110 billion reserves were higher as compared with US$107.8 billion as at March 30, 2018.

The reserves position was sufficient to finance 7.7 months of retained imports and was 1.1 times the short-term external debt, it said.

— Bernama