Following on from the circuit breaker which was activated on Monday, 10 March 2008, market integrity remains intact and trading is recovering on a positive note. Upon resumption of trading after the circuit breaker, the market saw strong buys from foreign funds, as indicated by 51% of total buys on the top 20 counters on KLCI during the final period of trading (3:58 p.m. to 5 p.m.). The total percentage of foreign buying for Monday,10 March 2008 was at 33%.
Over the last two days on 11 and 12 March, we are seeing the returning presence of foreign investors through the increase at 36% and 53% of total buys respectively on the top 20 KLCI counters on Bursa Malaysia.
Up to February of this year, our foreign trading on all counters was at 43% whilst last year, we recorded an average of 37% in foreign trading. This indicates that foreign investor activity has not only returned to normal, but is increasing as the market provides choice pickings on strong fundamental stocks.
Needless to say, global market situations will have an impact to our market but our fundamentals are strong. Clearly, foreign investors’ confidence in the market remains intact.
