Monday, 17 March 2014

#mh370 : Missing Jetliner Is Not A Factor In Bursa Malaysia's Decline

SINGAPORE, 16 March 2014 External factors, and not the missing Malaysia Airlines Flight MH370, have influenced the decline in share prices on Bursa Malaysia.

These factors include uncertainty over China's economic growth and continuing political tension in Ukraine.

AMP Capital Investors Head of Investment Strategy and Chief Economist Dr Shane Oliver said most global share markets posted a decline last week due to this and it was not surprising to see the Malaysian share market also slide.

"Despite the news surrounding the missing jetliner, the Kuala Lumpur Composite Index (KLCI) only fell 1.5 per cent, whereas other Asian markets actually recorded a steeper decline," he added.

At close on Friday, the share of Malaysia Airlines rose half-a-sen to 24 sen.

Oliver said this in response to a question on whether the missing jetliner incident had impacted the Malaysian share market last week.

"Overall, Malaysia has held up well in the face of a bad week for global shares.

"We might see more rough trading next week in the KLCI. But this will again likely be due more to global forces, including weakness in the US and European shares, due to worries about Ukraine," he added.

Flight MH370 went missing en route from Kuala Lumpur to Beijing and about an hour after taking off from the KL International Airport in Sepang.


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