KUALA LUMPUR, April 10 (NNN-Bernama) — Ringgit bonds drew the largest monthly inflow in over a year following bank failures and aversion to credit risk in the United States and Europe, says a reserach firm based in Malaysia.
Maybank Investment Bank Group Research (Maybank IB Research) in a note said this was due to the fact that regional local currency debts offered both yields and relative safety.
“Inflows accelerated to RM6.6 billion in March compared with RM4.3 billion in February, broadly in line with the regional trend as ringgit bonds outperformed Asean peers,” it said.
According to Maybank IB Research, the foreign shares of Malaysia Government Securities (MGS) rose to 36 per cent in March from 34.5 per cent in February.
Additionally, the MGS+GII (Government Investment Issue) also grew by 23.1 per cent in March from 22.4 per cent in February.
