Pacific Century CyberWorks (PCW, PCWKF) Message Board

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Technology Stocks : Pacific Century CyberWorks (PCW, PCWKF)

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To: ms.smartest.person who wrote (4092)	12/9/2000 1:33:32 AM
From: ms.smartest.person	of 4541

Investors head out before MSCI reweighting move AGENCIES -------------------------------------------------------------------------------- Malaysian shares yesterday closed lower on extended selling ahead of the weekend and the Morgan Stanley Capital International (MSCI) decision tomorrow on whether to adopt a free-float system for its index weightings. Dealers said MSCI's adoption of a free-float system was expected to have a slight impact on the market but the downside would be limited because many would have already factored in the possibility, and given the small number of foreign shareholdings. Dealers said sentiment was also hit by Wall Street's decline on Thursday. The Composite Index slid 2.48 points to end at 733.49. The Emas Index finished 0.74 point softer at 174.33 points, while the Second-Board Index closed 0.99 point weaker at 150.83 points. Losers outnumbered gainers by 386 to 150, with 206 other stocks steady. An institutional dealer said there were no fresh leads in the market. "There was nothing at all, it's so quiet. There were also no corporate developments," he said. MSCI's changes on free-float adjustments might lead to a cut in Malaysian weighting. However, fund manager Norhayati Abdul Hamid said MSCI fears might be overdone. "Market outlook may not be good but I don't expect panic-selling. In case of volatility, investors can consider the index-linked blue chips," she said. scmp.com

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