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THE KLSE got off to a rocky start in the first trading day of the year as window-dressing activities that had lent support to the market in recent weeks apparently disappeared. The Composite Index (CI ) skidded nearly 14 points or 2.15% to 632.4 yesterday, as investors sold down their holdings, on heightened fears of war between the US and Iraq.
EVEN though 2003 will be a challenging year for the unit trust industry in view of the global economic slowdown and depressed investment environment, many unit trust management companies are still optimistic that the industry will continue to grow this year.
The weak inflow of foreign direct investment (FDI) into Malaysia has remained a key concern since the Asian financial crisis period. It has not helped any that the country's manufacturing sector's recovery is lagging owing to more current external concerns such as the threat of war and weak confidence in some of Malaysia's major trading partners.