Wee questions govt over continued foreign fund outflow

MCA president Wee Ka Siong said about RM640 million in foreign funds flowed out of Bursa Malaysia in the first week of September, followed by another RM160 million in the second week.

PETALING JAYA: MCA president Wee Ka Siong has questioned the government over the continued outflow of foreign funds from Bursa Malaysia, with foreign ownership of Malaysian equities falling to a record low of 18.1% in August.

Foreign institutional investors extended their net selling streak on Bursa to six consecutive weeks as of Sept 11, according to investment research firm MBSB Research.

In a TikTok video, Wee said the government must outline concrete measures to restore foreign investors' confidence and stem the continued outflow.