REVIEW: Overnight Wall Street extended the downward momentum on follow-through selling, as the latest poor jobs data raised concerns about the outlook for corporate profits, spending and a deepening recession in the world’s largest economy, pulling the closely-watched Dow Jones Industrial Average 143.28 points lower to 8,599.18 the previous Friday. Apart from that, sustained decline in US Light sweet crude for February delivery on the New York Mercantile Exchange to US$40.83, down 87 cents a barrel due to gloomy outlook also helped fan the market down.
Many people had expected the local bourse to track the negative trend in the US, but unlike most Asian markets, which started out the week on an easier note, trading on Bursa Malaysia was calm, with the Composite Index (CI) up 0.33 of a point at 919.40 in initial trade.
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