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Philippine shares closed lower Tuesday, but losses due to the prospect of war in Iraq and the sharp fall on Wall Street were tempered by some bargain-hunting.
Next week is unlikely to bring much in the way of excitement to the Kuala Lumpur Stock Exchange (KLSE) as most investors will be away for the whole week for the Chinese New Year holidays. As such, market observers are bracing for a quiet, if somewhat dull, short trading week ahead.
STOCK markets across the world were dealt another setback when fears of war between US and Iraq were compounded by news yesterday that the US economy grew at 0.7% in the final quarter of last year, its slowest growth rate since the third quarter of 2000.