Should "for drive in (*)" work in version 1.98?

[Loving, Kent]

This construct does not work for me. Is it because I am using version 1.98?

This code:
   insmod regexp
   for drive in (*); do
     echo drive is $drive
   done

produces:
   drive is (*)

Even though ls produces:
   (hd0) (hd1) (hd31) (fd0)

Kent Loving 
425-315-3043