PETALING JAYA: Is further volatility in store for the main stock index as business confidence takes a beating in view of not only a change in the makeup of the 12th Parliament but also in the legislatures of the more economically important states and in the Federal Territory? On Monday, following the general election of March 8, the KL Composite Index (KLCI) fell 123.11 points, or 9.5%, to close at 1,173.22, wiping out RM86bil, or 8.7%, from the bourse's total market capitalisation of RM984bil as at March 7. The selling also saw a temporary halt in trading mid-afternoon when the circuit breaker installed by Bursa Malaysia in March 2002 was triggered after the KLCI fell 10% from its previous close on March 7. Big-cap stocks with high foreign shareholding as well as plantation and construction stocks were among those that saw their share price fall on that day. Read more
(13-3-2008 The Star)
