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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.
A RALLY sparked off by news that Valuecap Sdn Bhd, with RM10bil for local equity investment, had started operations last Friday lifted the KLSE Composite Index (CI) by more than 2% yesterday.
THE KLSE closed higher for the third day in a row yesterday with a strong trading volume, but heavy profit-taking pared gains in the afternoon. The benchmark Composite Index (CI) ended an active trading day up nearly 10 points at 661.41.
THE KLSE extended its winning streak into a 5th consecutive day yesterday, with news of corporate takeovers providing further mo-mentum to an already buoyant market.