Posted by: kalebhut February 27, 2007
Dow down 415 points: Chinese markets trigger worldwide sell-off
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Thank goodness..i sold 2 of my shareholdings and made a profit of NRs 20,000 for the first time in this worldwide sell-off frenzy. I hope this slump in stockmarkets won't last long. Asia share markets are working hard in face of U.S.market decline and continued jitters about China - falls don't look convincing and markets are off lows; Shanghai Composite Index in fact is now +1.3%. Most falls mirror size of decline on Wall Street which suggests move will soon have run course: Australian shares off 2.4%, Nikkei off 3.6%, STI 4.6%, HSI 3.2%, Kospi 4.2%; KLCI off 4.1% after large early fall which came in part on China parallels (hot money has been flowing into both countries to bet on currency rise). HK blue chip opened sharply lower following plunges on global markets triggered by Chinese markets on slew of negative rumours. The Hang Seng index opened down 720 points at 19,426 (Dowjones)
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