Monday, March 5, 2007

"Have faith in KLSE"

Malaysian stocks dips 173 point from Feb 23 High

Stocks Selling keep persists!

The Kuala Lumpur Composite Index ended Monday 4.6 percent down, reaching its lowest level in nearly two months as selling persisted.

The index closed at 1,110.69, falling to its lowest since Jan. 12 from it's high of 1,283.47 on Feb 23. That's 173 points drop and losses of more than RM130bil.

MIMB Investment Bank analyst Lee Cheng Hooi said the index could fall further to 1,049 points and possibly test the 1,000 point level in the coming weeks if the sell-off continues.