Its executive chairman Khairil Anuar Abdullah in a hastily convened press conference in August, defended the exchange's new trading system, claiming the stock's price movements were largely determined by market sentiment. The public, he pointed out, should not judge Mesdaq by the first day of trading. The country after all, was in the throes of recovering from the economic wounds of the recent past. Fair comment, but the Malaysian stock market scenario, which has always been about share prices and how to boost it to high levels during the pre-economic crisis years, is now seen as ridiculous and devoid of any firm fundamentals. The share price of a stock is king in this country.
Nothing makes a punter happier than to make quick profits at the expense of long-term gain.
It could end up as the unwanted child, with no family to call its own. A local cyberpreneur who started up his very own Internet venture that is now beginning to bear fruit, says there was so much expectations for the Intelligent Edge listing. It was going to be the first Mesdaq listing for the year and only the second since April 1999. Coupled with a rather sluggish stock market and market whisperings of larger economic hurdles in the horizon, has not made the new technology exchange a delicious prospect by a long shot. In a recent Malaysia.