THE KL market headed south for the third consecutive day yesterday as the confirmed case of SARS in Singapore provided institutional investors with an excuse to take profit on recent sharp gains in stock prices.
The benchmark KLSE Composite Index (CI) slid to a low of 732.4 points in the morning before regaining some ground to close at 736.2 for a 6.6-point or 0.9% loss. The index has fallen 20 points or 2.7% from its peak of 756.5 on Sept 4, dashing hopes for a pre-budget rally and raising questions about whether the market run-up, which began in May, has run out of steam.
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