MALAYSIAN shares are expected to open flat today, with foreign investors taking a pause after two days of heavy selling triggered partly by US financial woes. US stocks fell yesterday due to persistent uncertainty about the amount of money needed to shore up the financial system.
The S&P index ended below 700 points for the first time since October 1996 and the Dow Jones industrial average fell 0.55 per cent. “Buyers are still on the downside but I don’t see much of follow-through (from the Dow Jones) and the market will be resilient,” said a local dealer.
The Kuala Lumpur Composite Index ended 0.89 per cent lower at 868.74 points yesterday. The market has already suffered over the last two days in the aftermath of rights issues by top lender Maybank and mobile telephone company TM International, the dealer said. “I won’t be surprised if eventually the Dow Jones keeps declining, ours will follow suit, but at this stage I think the pace is slower,” said the dealer. - REUTERS
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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