Issue cover-dated September 19, 2002
ECONOMIC MONITOR: MALAYSIA
Fear of the Future?
By S. Jayasankaran
Issue cover-dated September 19, 2002
If you believe the stockmarket is a barometer of future economic news, then you should worry about Malaysia. The benchmark index of the Kuala Lumpur Stock Exchange soared 17% to hit 816 by late April. Since then it's been downhill all the way. By September 8, the market had actually come off 2% since January. That's despite the fact that there has been nothing but good news about Malaysia since. "When it [the market] reacts badly to good news, that's very bad,"says Kostas Panagiotou, a regional economist at Kim Eng Securities in Singapore. "It may be telling us something."
But what?
http://www.feer.com/articles/2002/0209_19/p060econmon.html