Global funds cut Malaysian debt holdings by 1.5% in May

Kuala Lumpur

OVERSEAS ownership of Malaysian debt securities fell by the most in nine months in May as a decline in the ringgit damped the appeal of the country's assets.

Global funds cut holdings of Malaysian bonds and bills by 1.5 per cent to RM229.5 billion (S$76.7 billion) from April, according to data from the central bank. It was the biggest decline since a 4.3 per cent drop in August and the first outflow in three months.