MARKET WRAP: WEEK ENDED 23 JANUARY’09

WEEKLY HIGHLIGHTS• The KLCI fell to a 3½-week intraday low of 867.4 points on Friday in
tandem with declines in most regional markets before closing at
872.7 points to register a loss of 2.7% for the week.

• Concerns over weaker economic outlook caused declines across
regional markets.

• The market is anticipated to move in tandem with overseas markets
as investors monitor the outlook for the U.S. credit market, global
economic growth and interest rates.

STOCKMARKET COMMENTARY
The KLCI fell to a 3½-week intraday low of 867.4 points on Friday
in tandem with declines in most regional. The KLCI closed at 872.7.1 points to register a loss of 2.7% for the week.

Average daily trading volume fell to 0.4 bil units from 0.6 bil units over the week while daily turnover in value terms was down to
RM0.5 bil from RM0.9 bil over the same period.

Concerns over weaker economic outlook caused declines across regional markets. The Hang Seng China Enterprises Index and Japan’s Nikkei Index fell by 6.8% and 5.9% respectively over the week.

On Wall Street, trading was volatile as investors turned cautious ahead of the announcement of U.S. 4Q2008 GDP results on 30th January 2009. The Dow fell to a 2-month intra-day low of 7,909 points on Friday due to weak housing and labour market data as well as expectations of lower corporate earnings. The Dow closed at 8,078 points for a weekly loss of 2.5% while the Nasdaq eased 3.4% to 1,477 points over the week.