April 11 Foreign investors net sold about $6
billion of Malaysian debt in March, their seventh consecutive
and biggest sales since January 2011, according to the central
Foreign sales of Malaysian bonds accelerated since November
last year, after the central bank had asked foreign banks to
stop trading ringgit non-deliverable forwards (NDFs), offshore
contracts they use to hedge their exposure to the currency.
Foreigners were unable to hedge their risk in onshore
markets because of lack of liquidity.
On the other hand, foreigners net bought Indian and
Indonesian bonds in March. There were inflows of $3.9 billion
and $2.4 billion in Indian and Indonesian bonds respectively.
March inflows in Indian bonds was the biggest in at least 15
years as per government data.
For graphic :tmsnrt.rs/2p25ufi
(Reporting By Gaurav Dogra & Patturaja Murugaboopathy; Editing
by Sherry Jacob-Phillips)