Strong net foreign fund inflows expected

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PETALING JAYA: The ringgit bond market is poised to strengthen and attract strong net foreign fund inflows this year underpinned by the cut in global interest rates amid financial market volatility in the near term.

Phoon said foreign buying was strong in the final week of July and continued into the first week of August.“We think a large majority of the recent inflows went to short and mid-tenor MGS and government investment issues to position for ringgit strength on foreign exchange unhedged basis.

OCBC Bank (M) Bhd head of global markets Stantley Tan said the global rate cut cycle is expected to have a spillover effect on the Malaysian bond market.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaUnited States

Topics: Bonds Rates Year Local Government Bond Interest Market Ringgit Rate Foreign

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-19 @ 07:00:00 (9 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 1036 words

Reading Time: 6 minutes read

Sentences: 25 lines

Sentence Length: 42 words per sentence (average)

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Copyright Owner: © The Star

News ID: 22127661

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