THE first quarter of the year is over and the picture has not been a pretty one. Bursa Malaysia, particularly the Kuala Lumpur Composite Index, was one of the worst performers in Asia.
The poor performance over the quarter gainedmomentum after the earnings season in February did not go down well with investors, as a number of companies missed expectations although the number ofdisappointments was the lowest in a few quarters.
The culprit, however, was the weakening US dollar, and the trading pattern of foreign investors quickly shifted to reverse gear after numerous comments poured cold water on speculative hopes that the ringgit would be re-pegged against the greenback.
Recent measures to liberalise and deregulate the capital and financial markets seemed to have failed to lift sentiment.
In the first of a two part series, StarBiz assistant news editor JAGDEV SINGH SIDHU and journalist YEOW POOI LING spoke with Pacific Mutual Fund Bhd chief investment officer GEOFFREY NG, TA Asset Management Sdn Bhd chief investment officer ANG KOK HENG, Singular Asset Management Sdn Bhd managingdirector TEOH KOK LIN, Amanah SCCM AssetManagement Bhd chief investment officerMUSHTHAQ AHMAD IBRAHIM, as well as AmResearchSdn Bhd executive director and head of research GAN KIM KHOON last week on what is affecting the country’s stock market and what it will take to lift the gloom.
The poor performance over the quarter gainedmomentum after the earnings season in February did not go down well with investors, as a number of companies missed expectations although the number ofdisappointments was the lowest in a few quarters.
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