Tuesday, October 07, 2008

What A Monday

Another negative news from here, DJIA was closed at slightly below psychological benchmark of 10K, dropped by 369 points low -a recovery from 700 point low at around 2.45 pm. The future is also negative as reported by Financial Times:
The Chicago Board Options Exchange Volatility index, known as Wall Street’s “fear gauge”, surged 18.7 per cent to 53.60, above 50 for the first time in its 18-year history.
In Indonesia, the same paper reads:
The decline in commodity prices took its toll particularly in Indonesia, where the composite index finished 10.03 percent lower at 1,648.74 points, its biggest one day percentage fall since October 2002 after bomb blasts hit Bali, killing more than 200 people. PT Bumi Resources, coal producer, slid 32 per cent to 2,175 rupiah and PT Astra Agro Lestari, a plantation company, lost 23 per cent to 10,000 rupiah.
I think this is probably the end of the commodity boom and easy money from international market.

No comments:

Post a Comment