Malaysian shares plunged more than 3 percent in Thursday morning, with the benchmark Composite Index breaching a key psychological point, pulled by steep falls on Wall Street and domestic political uncertainty.Dealers said players were still trying to digest a sudden move by Prime Minister Abdullah Ahmad Badawi to hand over his finance portfolio to deputy premier, Najib Abdul Razak, and assuming instead the latter’s defence minister post.
Abdullah, under siege to quit, is facing rising dissent from within his Umno party and a growing challenge from Opposition Leader Anwar Ibrahim, who has promised to form a new government soon.
"The main issue is still Anwar and when he will form the next government and what sort of action the current government may take against him," said David Cohen, director of of Singapore-based Action Economics.
The Kuala Lumpur Composite Index, which dived on the opening bell, was down 3.74 percent, or 37.53 points, to 965.46 by 11.56 am.
Traders expect further losses, pegging support at the 900 points mark.
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satu dunia jatuh .. bukan sini saja ...
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