"The Composite Index dropped 3.46 per cent to 1,453.66, the single biggest fall following the US subprime issue, and analysts expect further slide tomorrow." (Btimes).
The bleak outlook seems to resonate among most research groups. Some claimed foreign funds are leaving the country with their money to plug the short-falls in the US. But some down-played the drop today saying that we could decouple from the global problems as Malaysia's economy is mainly commodity- and resource-based, which should do well in 2008.
So are we heading south again tomorrow? Unlikely if Dow improved to positive territory.
And some good news from US... JP writedown is smaller that expected.
JPMorgan Chase & Co., the third- biggest U.S. bank, said profit dropped 34 percent on subprime- mortgage writedowns and higher provisions for future loan defaults. JPMorgan rose as much as 6.8 percent in New York trading as the $1.3 billion writedown was smaller than analysts estimated. (Bloomberg)
The bleak outlook seems to resonate among most research groups. Some claimed foreign funds are leaving the country with their money to plug the short-falls in the US. But some down-played the drop today saying that we could decouple from the global problems as Malaysia's economy is mainly commodity- and resource-based, which should do well in 2008.
So are we heading south again tomorrow? Unlikely if Dow improved to positive territory.
And some good news from US... JP writedown is smaller that expected.
JPMorgan Chase & Co., the third- biggest U.S. bank, said profit dropped 34 percent on subprime- mortgage writedowns and higher provisions for future loan defaults. JPMorgan rose as much as 6.8 percent in New York trading as the $1.3 billion writedown was smaller than analysts estimated. (Bloomberg)
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