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1-9 of 9
waiting for clear signal before you act.
don't buy or sell now.
Hold cash.
it is time for guys to abide by their trading principals please. very likely it is gonna be down trend for a while, a retracement if things gets ironed out fast.
gd if u can punt n make kopi $$ today..else i sugg u wait a few day more..for margin n contra weakness...then u go in for the kill !! READY TO STRIKE !! of course make $$ lah !
wonder any1 will commit suicide for today's mini-plunge ??? :D
thai finance minister just resign....your history book says the last Asian crisis originated from Thailand...it is more than a correction...history repeats itself...goodluck.
The way I look at the current market conditions is just a healhty correction. No reason to cause any panic. No war, No crisis and No Major Bad News
Mkt Record High, punter is going to payup, cannot..Bloodie dloodie and ploodie
Margin calling now and /or force selling coming at it again :(( V.Sad
Nowadays the baton is passed to the East. Many worries of Yen Carry Trades and now China Stock Markets are calling the shots! Strange they were on one weeks holiday came back on Monday to get battered. Some short term corrective measures must come out otherwise the next bubble burst will be worst than the Asian Crises of 1996/7.
Dow will also die tonight....
Today sees bloodbath in Asian market mainly due to steep corrections in Shanghai..Be careful..tomorrow STI might still go down.
Tuesday, February 27, 2007, South China Morning Post
Shares suffer biggest plunge in decade
ASSOCIATED PRESS in Shanghai
Updated at 4.42pm:
Shanghai?s benchmark stock index plunged nearly 9 per cent on Tuesday, its biggest drop in more than 10 years, as investors unloaded stocks to lock in profits after recent gains. The Shanghai Composite Index tumbled 8.8 per cent to close at 2,771.79, its biggest single-day decline since it fell 9.4 per cent on February 18, 1997, just after the death of Communist Party elder Deng Xiaoping. The Shanghai benchmark had gained 1.4 per cent on Monday to 3,040.6, extending a spate of record high closes. The Shenzhen Composite Index sank 8.54 per cent on Tuesday to 709.81.
Chinese shares doubled last year as investors piled into the market following the completion of shareholding reforms that helped to reduce worries over a potential flood of shares entering the market. But the markets have become increasingly volatile. Market heavyweights plunged on Tuesday on heavy selling by institutional investors, which in turn spooked retail investors.
?The most important reason for today?s decline was pressure for profit-taking,? said Peng Yunliang, a senior analyst at Shanghai Securities. ?People viewed 3,000 as a psychological benchmark. It?s understandable they might want to pull back after the market hit that peak.?
Large-cap Baoshan Iron & Steel hit the 10 per cent downside limit at 9.03 yuan, Citic Securities fell 9.7 per cent to 36.21 yuan and China Life Insurance declined 9 per cent to 33.89 yuan. Airline shares were battered after Nymex light, sweet crude for April delivery gained a cent to US$61.40 a barrel, a two-month high, during offshore trade in Singapore.
Air China slid 10 per cent to 6.79 yuan and China Southern Airlines lost 5 per cent to 5.81 yuan.
China still limits foreigners? purchases of the yuan-denominated stocks that make up the biggest share of the markets, though that is gradually changing as regulators allow increasing participation by so-called qualified foreign institutional investors.