Bursa Suspended, Reacts to Geopolitical change

Bursa fell more than 10%

Latest news:KUALA LUMPUR: Bursa Malaysia halted trading at 2.58pm after the Kuala Lumpur Composite Index (KLCI) fell 10%, which is the maximum limit. The KLCI fell 130.01 points to 1,166.32, the biggest one-day percentage loss in recent years. Turnover was 913 million shares valued at RM2.47bil.

Losers hammered gainers 887 to 19.

Also: Key Asian markets fell in the morning session Monday on growing fears of a recession in the United States while in Malaysia, sentiment was further weighed down after the Barisan Nasional failed to retain its two-thirds majority in Parliament.

As we have just barely recovered from the euphoria and lack of sleep of the Election Aftershock, Malaysia - brace yourself for an economic aftershock.

In all likelihood, BN will blame us (for voting for change) for the fall of the Bursa, when in fact it is a regional sentiment as US is in recession and the Oil price is now at record level.

One only need to look at who are the big losers to realise that there are mainly those in property development and concessionaires. There is no surprise there, right since a cleaning up will soon happen and investors are running scared!




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