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Turning point for Malaysian stocks as foreigners pile in - superadmin - 03-25-2021 KUALA LUMPUR: Overseas investors have been pulling out of Malaysian equities for 20 straight months. March could mark the turn of the tide. Foreigners have poured a net US$97 million into local stocks this month through March 22, while withdrawing a combined US$1 billion from four other Southeast Asian markets tracked by Bloomberg. The inflows come as valuation of Malaysia’s main equity gauge shows it is now the cheapest in the region while the dividend yield of 3% is the highest among major Asia Pacific indexes after Singapore. Foreigners becoming net buyers would mark a rare event for a market that saw global funds pull a record US$5.7 billion last year. Political upheaval combined with the Covid-19 outbreak had soured sentiment even as local investors turned Malaysian glove makers into one of Asia’s hottest pandemic trades. - More -