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Tuesday, May 7, 2013
Foreign investors confidence shown after BN win in GE13
Much has been debated and argued about the GE13 results. Well, it doesn't matter because foreign investors are showing their confidence as the market open today.
Affin Investment Bank Head for Retail Research Dr Nazri Khan said the participation of many foreign investors in the local bourse today was a clear signal of their confidence in the Malaysian economy.
“Bursa Malaysia soared to a new high of more than 1,800 points and this clearly showed foreign investors’ confidence in the government’s development projects.
“In fact, Bursa Malaysia received an injection of RM2 billion in foreign funds during the morning session today which is the highest recorded thus far,” he told reporters here Monday.
Of course, there might be a lot of argument that these are all manipulation but then again, assuming that the momentum is maintain, we are talking about revising the target to 1,830 points by year end.
So far, BN win has also had a positive impact on the cash and foreign exchange market while the entry of foreign investors has helped the movement of the ringgit, which rose to a 10-month high of 2.9870 against the US dollar.
Well, if you are still upset about BN win in the election, maybe this will help to cheer you up.