We forward herewith the latest Market wrap report for the week ended 31 October 2008.
After hitting a 4-year intraday low of 801.3 points on Tuesday, the KLCI rebounded following the U.S. Federal Reserves interest rate cut on 29th October. The KLCI rebounded and closed at 863.6 points to register a weekly gain of 0.5%.
Most regional markets closed higher for the week as investors reacted positively to the interest rate cuts by global and regional central banks to ease credit conditions.
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.
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