Saturday July 5, 2008
With more bearish news from the US and soaring crude oil prices to another high of US$145.85/barrel, Asian bourses ended the week 2% lower on the first trading week of the second half. KOSPI was the biggest loser for the week, stumbling 6.3% on economic woes, closely followed by KLCI which dropped 4.7% on lingering political uncertainties.
KLCI
Taking the leads from another triple-digit loss in the Wall Street and due to domestic political uncertainties, the KLCI tracked the regional downtrend by easing 0.3% on Monday. It continued to slide, losing 1.0% on Tuesday before intensifying its downward momentum by another 1.8% on Wednesday. On Thursday, trading in Bursa Malaysia was halted due to a rare technical glitch. When it resumed trading on Friday, it slumped 1.7% on heavy selling pressure across the board. Sentiment remained jittery, while daily volume only averaged at 448 million shares.
Source from thestar BizWeek
