Awang Adek confident that capital outflows will not continue in 2H2023

KUALA LUMPUR: Securities Commission Malaysia (SC) chairman Datuk Seri Dr Awang Adek Hussin is confident that there will not be sustained capital outflows in the second half of 2023.

Securities Commission Malaysia (SC) chairman Datuk Seri Dr Awang Adek Hussin said the state elections happening this Saturday is temporary and would not lead to capital outflow.

"Everybody knows this election is a temporary thing. So I do not think there will be any adverse effect on capital flows or the performance of market," he said in response to a question on market performance on the sidelines of InvestED Leadership Programme at Asia School of Business.

MIDF Research in its note today said foreign net inflows into Bursa Malaysia continued for a fourth consecutive week last week, albeit at a smaller sum of RM130.5 million, compared with RM637.8mil recorded in the week before.

Awang Adek added that the market has improved over the past week which was a good indicator that the sentiment will continue to improve in the future.

He cited Thailand as an example whereby its market had been doing well despite the country's current political deadlock.

"The federal government is steady, it is intact and this is only the state election," he added.

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