KL Composite Index double digit growth in 2007
Investors in Malaysian stocks celebrated a record year in 2007, with the KL Composite Index (KLCI) posting its biggest annual rise since 1999 and a second straight year of double-digit gains.
Dealers said there was some light profit-taking activity yesterday after the 100-quality stock measure rose to a new all-time high of 1,452.57 points in early morning trade.
The index ended the last trading day of the year 2.01 points lower from a record close last Friday to 1,445.03. The decline also halted the KLCI’s six-day winning streak.
Despite yesterday’s dip, the KLCI’s 31.8% gain for the year put the local benchmark among the region’s top performers behind China, Hong Kong, India, Indonesia and South Korea.
Most Asian markets, excluding Japan, posted double-digit gains last year, with the regional stock measure up for a fifth year in a row.
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