Malaysia's composite index reached its highest level since September 1997.
The index reached a high of 79 in 1972 and has fallen fairly steadily ever since.
He said the index could reach the mid-8,000's within a month.
The May figure represents the highest reading since June 1984, when the index reached 58.1 percent.
Right now, he says, the indexes are reaching a peak, for the fourth time since 1901.
The fall came the day after the index reached its high for the year.
She said that index rose to 83.0 from 77.99 the month before, and almost reached the 15-year high of 84.0 in March 1980.
Only 10 of the 30 stocks in the Dow today are at or above their levels when the index last reached its high.
In 1970 the index reached 116.8, and by 1980 it had increased to 143.
The level is close to the post-recession peak of 72, which the index reached in February.