Bursa KLCI Below 900 Points!
Filed Under (Bursa Alert!) by Webmaster on 20-10-2008
Tagged Under : below 900, Bursa Malaysia, henry paulson, obama, president, usa treasury secretary
This is to record the fall of Bursa KLCI below the 900 points! It is at 892 points.
Protradeshares received a snapshot of the BFE screen of one of the broker that shows that as at 9.42am today, 20 October 2008, the KLCI is below 900 points.
There seems to be no letting up on the fall of stockmarkets around the world. In my opinion the full blame should be on the regulatory bodies of US and European countries. These countries often claim that they do not impose restriction on the free market and on the creation of so called innovative financial products. However as a regulatory body, they don’t necessary have to impose restriction but at least they should have monitored the companies books or balance sheet of the so called financial institutions that issued ‘creative’ derivatives to the market.
With proper monitoring and early detection, such big fallout of the financial system would no have happen in US or in Europe. If this would have happened in an Asian country, the Finance Minister would have offered to step down. In this case the US Treasury Secretary, Henry Paulson, should have step down. I guess he will have to if Obama wins the presidential election this November.
Here is the snapshot of Bursa Trades as at 9.42am today.
Bursa Trades on 20 October 2008
