| Investment challenge: Local pros brace for bumpy ride
The stock market is off to its worst start in years, with major indexes falling into bear-market territory as fears of a recession continue to bring a barrage of selling. And not even the endorsement of an economic stimulus plan by President Bush and Federal Reserve chief Ben Bernanke has eased investor anxiety. The Dow Jones Industrial Average is down to its lowest level since March and was off 8.3 percent heading into Friday trading. The Standard & Poor's 500 index has plunged to its lowest level since October 2006. The most widely used U.S. stock market index is already down 9.2 percent in 2008. Given those numbers, can you blame investors for not shipping any new money off to Wall Street? But participants in The Capital Times Investment Challenge don't have the luxury of sitting on the sidelines.
Indonesian shares close lower on Dow fall, record oil price - UPDATE
Gains in oil producers and palm plantation stocks helped limit the market fall although trading volume remained light as most players were still away for the new year break. The composite index closed down 16.44 points or 0.6 percent at 2,715.07, off a low of 2,702.76. The LQ-45 index was down 5.20 points at 591.35. Decliners led gainers 121 to 59, with 57 stocks unchanged. Volume was 2.11 billion shares valued at 2.93 trillion rupiah. The Indonesian rupiah was trading at 9,407/9,412 to the US dollar, compared to 9,390/9,400 late Wednesday. "The falls on Wall Street overnight and the rise in the oil price to a record level were the main drivers of the market's fall today," Mandiri Securities analyst Rafdi Prima said. Technically speaking, he said the key index has been consolidating since mid December after going through a strong rally in November.
InsiderAsia’s Model Portfolio - Week 250
Global stock markets gained further ground last week, as investors sought new positive leads after a dismal performance in November.
The KLCI surged to a new historic high of 1,440.4 on Thursday. It slipped a little on Friday but still ended the week up 37 points or 2.7% to 1,434. This brings its total gains over the last two weeks to a significant 81 points. However, the index' gains were not reflective of the broader market, where market breadth was more mixed and trading volume remained low.
For equity markets around the world, the recent rally was a welcomed relief. November turned out to be one of the worst months in recent years, as large losses from the subprime crisis, and escalating US housing and economic problems hounded financial markets worldwide.
Fall & rise of Sensex
US stock index futures sank indicating Wall Street was likely to join a global equity markets plunge that may usher in a bear market when trading resumes on Tuesday.
January 21, 2008
Blood-bath on Dalal Street; Sensex ends 1400 points down
It was one trading day that investors will take a long time to forget. Fears of recession in the US becoming a reality saw global indices tumble. The worst to get affected in this mayhem was the Indian market.
The bears went berserk on Dalal Street creating panic to such an extent that trading in Bombay Stock Exchange's benchmark Sensex was halted briefly.
The moment trading resumed, the index recovered some lost ground. According to dealers, "government funds are trying to bring in some stability to the already crumbling market."
Sensex saw the biggest absolute fall in history by falling 2062 points intra-day.
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