Oz market in free fall again, when is Malaysia's turn?

With the nation's finance chiefs, especially the Finance Minister and PM-in-waiting still much living "in denial" over many things, Malaysia's turn will be hastened instead of being delayed, or maybe even "prevented". IN ONLY SOME OF THESE UMNO BIGWIGS HAVE BRAINS...

The biggest "lie" or myth or bad medicine they have sold the Rakyat....hapless Rakyat?

It's the Petronas revenues and profits and their true status ... and their co-relations with the petrol prices at the pump. I have written enough. As long as these idiots keep on treating the nation's resources as their political war-chests,
Malaysians better pray more than five times a day. I say my prayers even in my nightmares, and the horses keep waking me up with their Neigh! Neigh!

Do these four-legged animals know how to show their middle fingers in te direction of Putrajaya?

:) :(:(:(: :(:(:(: :(:(:(: :(:(:(: :)

Australian share market falls at open after Wall St plunge
By staff writers
NEWS.com.au
December 02, 2008 10:06am


In the red ... bleak economic news from around the world has pushed the ASX more than 3pc down at the open
/ File
Shares fall sharply at the open
Follows 8pc plunge on Wall St
As it happened: Market open

THE share market has fallen sharply this morning after Wall St plunged on confirmation the US was in recession.

Immediately after trading started, the ASX200 lost more than 3 per cent, falling well below 3600 points.

CMC Markets analyst David Taylor said the expected interest rate cut would do little to counter the heavy falls on the local market.

"There could be a shot of adrenaline and we could see a rally for 15 minutes or half an hour but we're not looking to go into positive territory by any means," he said.

The big miners posted sharp falls, with BHP losing 7 per cent, Rio Tinto losing nearly 6 per cent and Fortescue dropping 10 per cent.

The banks also fell heavily, with ANZ down 2.3 per cent at $14.05, CBA down 3.1 per cent at $31.98, NAB down 2.6 per cent at $18.93 and Westpac down 3.5 per cent to $16.35.

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I sometimes wonder if our analysts and brokers can ever think for themselves instead of just blindly following the US market patterns...

(Read More)

Miles of Adelaide "It's going to be a pretty terrible day on our market," Julia Lee from Bell Direct told Sky Business this morning.

A large fall on the local exchange was expected after grim economic news, including confirmation of a US recession, sent Wall Street stocks tumbling overnight.

The Dow Jones Industrial Average sank 7.7 per cent and the broad-market Standard & Poor's 500 index fell 8.93 per cent.

The falls came after economists declared the US has been in a recession for the past year.

"The market has gotten off to a tough start to the week today, as recession fears have now become a reality, and the questions that remain are just how bad and for how long this recession will linger over us," said Michael Fowlkes, analyst for the online investment service Investors Observer.

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