Dateline Friday 16 January 2009.

DAILY MARKET COMMENTARY.

Thursday Markets Closing Prices.

KLCI 897.45 down 16.01 or 1.75%.
DJIA 8,212.49 up 12.35 or 0.15%.
Crude Oil US$35.25.
March FCPO RM1,801.
Ringgit - Not available.

NEWS.

Finance Ministry maintained 2009 GDP at 3.5%. Meanwhile, the Economic Planning Unit and MIER revised the 2009 GDP to 2.5% and 1.5% respectively.

Muhyiddin of MITI said the economy is still growing but the impact of the slowdown could be felt anytime now.

Comment - No sense of urgency from the Government to introduce further measures to stimulate growth especially for the domestic demand. Even effort by the private sector to stimulate growth and provide employment to the 'rakyat' by planning to build LCCT airport has been met with a lot of resistance.

WORLD NEWS.

ECB cut interest rate by 50 basis point to 2.00% as the economic growth risk clearly on the downside and financial turmoil has intensified further.