2021 seen as bleak year as uncertainties cause funds to flee
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Title : 2021 seen as bleak year as uncertainties cause funds to flee
Category : Malaysians
Experts do not expect a rebound on Bursa Malaysia any time soon.PETALING JAYA: An economist has blamed bad policies and political tension for the flight of funds from Bursa Malaysia.Center for Market Education CEO Carmelo Ferlito said the outlook was likely to remain bleak for some time.According to MIDF Research, local institutions and foreign investors were net sellers to the tune of RM3.43 billion and RM5.54 billion, respectively. It said local equities were largely supported by retail investors since the beginning of 2021.Ferlito said bad policymaking mixed with high political tension was pushing investors to look elsewhere for opportunities. Carmelo Ferlito.“It is no mystery that Malaysia is not undergoing a good economic, social and political moment,” he told FMT.“The anti-Covid-19 strategy has been wrong from the beginning and, despite the bad results achieved so far, th…
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