Don't turn KL bourse into casino: Anwar<\/p>\n
KUALA LUMPUR (AFP): Malaysian Deputy Prime Minister Anwar
\nIbrahim yesterday cautioned investors against turning Kuala
\nLumpur's bourse into a \"casino\" as the stock market suffered a
\ndownward drift.<\/p>\n
Anwar, who is also finance minister, told market players to
\nstop being greedy, to avoid speculation and instead to base their
\ninvestments on the companies' fundamentals and its long-term
\nreturns.<\/p>\n
Investors should understand the fundamentals and the
\n\"education process of a stock market (rather) than going in for
\nshort term gains,\" Anwar was quoted as saying by the official
\nBernama news agency.<\/p>\n
\"... those who entered the stock market should have staying
\npower and discipline so that they would not be easily taken in,\"
\nhe added.<\/p>\n
While admitting that the stock market had been depressed
\nlately by the central bank's credit curbs on shares and luxury
\nproperties, Anwar said the guidelines were misunderstood by the
\npublic.<\/p>\n
\"The move was to enable the government to manage the economy
\nover the long term and is not aimed to hinder new development
\nprojects,\" he stressed.<\/p>\n
This is the second time Anwar has publicly reassured investors
\nover the central Bank Negara's credit curbs, introduced on April
\n1 to avert an asset inflation bubble, but which depressed the
\nlocal bourse.<\/p>\n
The key composite index on the Kuala Lumpur Stock Exchange
\nfell 1.4 percent Thursday and continued its downfall Friday.<\/p>\n
Despite Bank Negara's move to clarify the measures on Tuesday,
\nanalysts said the credit curbs had somewhat highlighted the
\nweakness of Malaysia's economy, causing investors to remain wary.<\/p>\n
They said market sentiment was also dampened by the overnight
\nfall on Wall Street and there was lack of fresh leads to spur the
\nmarket.<\/p>",
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