MALAYSIA: While major stock markets gyrate over...

MALAYSIA: While major stock markets gyrate over global recession prophecies and interest rates in the industrialized nations, the Kuala Lumpur Stock Exchange is soaring. The dizzying performance since the delisting of Malaysian companies from the Singapore bourse last year has prompted predictions of a record-breaking number of new listings. Exchange representatives are tightening regulations to cope with the demand. After a 7% rise over three days, the Kuala Lumpur Stock Exchange Composite index reached an all-time high last Monday of 634.27, eclipsing the record of 632.22 set Aug. 1. Brokers predict a record-breaking spree into uncharted territory. “International money is pouring in,” said a securities analyst. “We do not think that such euphoric buying will reverse itself quickly.”