It was exactly one month ago when I wondered whether the Kuala Lumpur Composite Index, then hovering at around 1,096 points, would shoot beyond 1,100 on the first day of trading in 2007.
I wasn’t disappointed. If you had put your money into the market (assuming you buy the correct counters, that is) at the beginning of the month, you will be grinning very widely now.
When the market closed yesterday, the index had reached 1,181.30 points. It is the highest for a long, long while. Though it is still some distance away from the all-time high of 1,219.79 points attained on 27 Mar 1997, the way the market is chugging along, I feel the difference of a mere 38 points is nothing insurmountable.
This looks like the run-up to the Chinese New Year already and I think in the next two weeks, we may see a new all-time high for the KLCI. Wouldn’t it be loverly??