Well the share market stage a technical rebound after the Dow Jones Industrial Average (DJIA) climb to close higher in the early morning. The DJIA climb up +279.01 points to close at 8,228.10 points. With this climb up, was it because of the "Obama Effect" ? As long as the DJIA able to stay above 8,000 points then it will be a relief to global financial market.
Based on the KL Composite Index movement right now, it is still too early to predict where the KL Composite Index is heading to. At these moment indicators still didn't poised any positive sign yet with the total volume recorded was lower.Chinese New Year is coming. Most of the Asian share market will be close for long holiday. DJIA and the European Market will act as the Big Boss for next week indicators.
Yesterday the Bank Negara plays an important role in helping out to stabilize the Malaysia share market. The announcement of reducing the Key Interest Rate to 2.5 percent is really helping in reducing the current crisis face by the businesses. We are hoping that the Bank Negara will keep on continuing its current performance in helping out this country.
2 comments:
obama or brown -solution to current crisis is simple for all politicians
print more money and paper-i owe you at xxx interest rates and the rest of the world will subsidised our domestic consumption led economy.continue with our frivolous spending spree and we will be out of the woods by spending beyond our means
if you go thro obama's rescue package-its another round of money printing and injection of trillions of $ to increase liquidity in the system and restore CONFIDENCE FOR CONSUMERS TO spend!!!!VERY INNOVATIVE INDEED DONT NEED A ROCKET SCIENTIST FOR THAT PRescription.the bottom line is where do you get those monies? the answer is obvious-get it from rich frugal asian countries
too good to be true in a capitalist world -failed banks gomen bailouts failed car industry -gomen rescue package,fail to pay your housing mortgage-no problem special vehicle from gomen to restructure your debts
I really agreed on the above statement. Just by printing more money and it sure will restore the confident level for every consumers to spend.
I heard once before that this current crisis is totally different from the 1938 Great Depression where by during that time printing more money has to follow how many gold bar you own.
Today is a different story. Every country is printing money including the European country and some of the Asian country. They don't care how many gold bar they own. THEY JUST PRINT IN ORDER TO SAVE THEIR PRIDE.
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