KUALA LUMPUR, Jan 7 (Bernama) -- Bursa Malaysia’s benchmark index rebounded from earlier losses to close at its intraday high on Wednesday, gaining 0.27 per cent in late trading as buying interest returned to selected heavyweights. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 4.48 points to 1,676.83 from Tuesday’s close of 1,672.35. The benchmark index opened 0.88 of-a-point lower at 1,671.47 and subsequently hit a low of 1,665.94 during the mid-morning session before gaining momentum toward closing. On the broader market, losers led gainers by 565 to 512, while some 526 counters were unchanged, 1,046 untraded, and 10 suspended. Turnover improved to 2.73 billion units worth RM2.76 billion versus Tuesday’s 2.66 billion units worth RM2.76 billion. Dealers said that investors were cautious following geopolitical developments in Asia.
It felt like it's the same story everyday.
And that's probably what the bear market looks like....making everyone run and too afraid to invest.
I felt that the picture below as captured from Microsoft's Money app described the current market in a very simple and clear manner.
The oil rallied but this time, another bad news. Apparently, disappointing services data raised the risk that weakness in manufacturing is spreading.
The Standard & Poor’s 500 Index fell a third day after data showed service industries expanded at the slowest pace in nearly two years. Banks led losses in America and dragged European equities to a third day of declines. The dollar plunged to a three-month low versus the euro.
The plunge happens even as the oil market rallies.
The S&P 500 fell 1.2 percent at 11:08 a.m. in New York, headed for a third straight drop after a 1.9 percent slide Tuesday. The index is looking for its first gain in February following a 5.1 percent drop last month that delivered the weakest start to a year since 2009.
Financial firms in the S&P 500 plunged 2.2 percent, bringing the loss this year past 13 percent. Legg Mason Inc. and Charles Schwab Corp. have lost more than 29 percent to pace declines, while investment bank Morgan Stanley is down 25 percent.
The Stoxx Europe 600 Index fell 2 percent, trimming losses of more than 1 percent as miners and real-estate companies paced gains. Italian banks slumped, as Banca Popolare di Milano Scarl, Banco Popolare Societa Cooperativa and Banca Monte dei Paschi di Siena SpA fell more than 5 percent.
The Hang Seng China Enterprises Index retreated 2.5 percent while the Shanghai Composite Index ended the day 0.4 percent lower after falling 1.9 percent. Chinese financial markets will be closed next week for the Lunar New Year. Japan’s Topix index sank 3.2 percent. Stocks around the world have lost $6.5 trillion of value so far this year.
What a way to start 2016....is this just the beginning of things to come? Hmmm...food for thought!
And that's probably what the bear market looks like....making everyone run and too afraid to invest.
I felt that the picture below as captured from Microsoft's Money app described the current market in a very simple and clear manner.
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| It's almost painful to watch the daily decline |
The Standard & Poor’s 500 Index fell a third day after data showed service industries expanded at the slowest pace in nearly two years. Banks led losses in America and dragged European equities to a third day of declines. The dollar plunged to a three-month low versus the euro.
The plunge happens even as the oil market rallies.
The S&P 500 fell 1.2 percent at 11:08 a.m. in New York, headed for a third straight drop after a 1.9 percent slide Tuesday. The index is looking for its first gain in February following a 5.1 percent drop last month that delivered the weakest start to a year since 2009.
Financial firms in the S&P 500 plunged 2.2 percent, bringing the loss this year past 13 percent. Legg Mason Inc. and Charles Schwab Corp. have lost more than 29 percent to pace declines, while investment bank Morgan Stanley is down 25 percent.
The Stoxx Europe 600 Index fell 2 percent, trimming losses of more than 1 percent as miners and real-estate companies paced gains. Italian banks slumped, as Banca Popolare di Milano Scarl, Banco Popolare Societa Cooperativa and Banca Monte dei Paschi di Siena SpA fell more than 5 percent.
The Hang Seng China Enterprises Index retreated 2.5 percent while the Shanghai Composite Index ended the day 0.4 percent lower after falling 1.9 percent. Chinese financial markets will be closed next week for the Lunar New Year. Japan’s Topix index sank 3.2 percent. Stocks around the world have lost $6.5 trillion of value so far this year.
What a way to start 2016....is this just the beginning of things to come? Hmmm...food for thought!
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