Home > Market View > Another sell off in Asian markets-slump in Indonesia

Another sell off in Asian markets-slump in Indonesia

Wednesday, August 15, 2007 Leave a comment Go to comments

Global markets are again selling off today. The Dow in the US was down 207 points and Taking cue from that Asian markets are trading down with each of them falling between 2-3% percent. There has been a SELL OFF in Indonesia with markets slumping 8.8%!Read this latest market report.

The credit market fiasco has take couple of more hedge funds in its fold with the latest being $1.5 billion Sentinel Management Group.

India and Korea might be lucky in the sense that markets are closed due to independence day celebrations. It is coincidence that Korea also celebrates its independence day on 15th August!

Traders and investors might be eagerly praying that there is some pullback today in the US so that damage to Indian markets is less. To me this looks a very unlikely situation. Has the long term bullish trend in global equities reversed? This is a billion dollar question each investor might be asking today.

Brace yourself for a gap down opening tomorrow. Some bounce expected around 4200 levels.I am adopting a wait and watch approach due to high volatility.

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