- Market Daily Report: KLCI ends higher in tandem with regional markets
- Market Daily Report: KLCI up with US stocks as Malaysian earnings trickle in
- Market Daily Report: Malaysian stocks stay weak as US bombing in Afghan soured investors' appetite
- Market Daily Report: KLCI rebounds after two days in the red
- Brokers Report: Petronas Chemicals - FID On Isononanol Plant Approved
Tuesday, January 5, 2016
The first day of the year and it already looks like a bear market is likely
2016 definitely didn't start off brightly. For those who were concern about the economic outlook in 2016, things are already looking pretty muddled.
Emerging-market shares slumped the most since August as evidence of slowing manufacturing in China triggered a selloff that halted trading in Shanghai.
China’s CSI 300 Index fell 7 percent and triggered a circuit-breaker that suspended trading for the rest of the day. Hong Kong’s Hang Seng China Enterprises Index, which tracks mainland shares traded in the city, slid 3.6 percent. Benchmark gauges in South Korea, Taiwan, Malaysia, South Africa and Poland lost more than 2 percent.
The MSCI All-Country World Index fell 2.1 percent by 5 p.m. in New York, topping its slide of 1.5 percent at the start of 2001. The S&P 500 dropped to 2,012.66, after the gauge ended 2015 down 0.7 percent.
In short, the whole market seems to be on the downside.
According to marketwatch, odds of a losing year based on Dow's performance on the first trading day. What do you think?