djchris

TOKYO: Asian investors sweated Thursday as the aftershocks from the recent global stock market rout reverberated around the region, pushing Tokyo and Shanghai back into negative territory.

Markets waited nervously to see if selling pressure would ease -- as many analysts predict -- or whether the recent signs of stabilisation in many markets are merely the eye of the storm before a further selloff.

Analysts have been quick to point out that the Asian economies remain in good shape, but after the sharp falls of recent days nerves were still frayed.

After clawing back some of their massive losses on Wednesday, Chinese share prices turned lower again, falling 2.84 percent in morning trade as the rollercoaster ride continued following Tuesday's worst selloff for a decade.

Dealers said investors remained jittery despite a turnaround of nearly four percent Wednesday and volatility was expected to continue given the Chinese market was up more nearly 130 percent over the last 12 months.

"Investors are still wondering if the storm is actually over or not," said Masatoshi Sato, a senior strategist at Mizuho Investors Securities in Tokyo.

"Aftershocks in some markets, where prices are overvalued, may be seen from now on. Volatile and sensitive trading is likely to continue at least until mid-March," he said.

In Tokyo the benchmark Nikkei-225 index was down 1.15 percent by lunch as investors drew little comfort from a modest rebound overnight on Wall Street.

Wall Street shares clawed back some lost ground Wednesday, ending higher a day after a global rout unleashed the worst one-day drop in US stocks since the aftermath of the September 11, 2001 terrorist attacks.

The Nikkei index slumped 2.85 percent on Wednesday. At one point, the key index was down more than 700 points, a bigger daily loss than the one sustained following the September 11 attacks.

Despite the fresh losses, many market watchers remained optimistic that the worst of the recent rout would soon be over.

"The impact of the global stock slump is expected to wane soon as a lot of players still bet that this is a temporary phenomenon," said Kenichi Azuma, a senior broker at Cosmo Securities.

"Investors are taking their time to consider which shares they should buy back at the bottom," he added.

In Hong Kong share prices opened 0.36 percent lower on Thursday after two days of sharp falls prompted by global sell-offs.

Barclays Wealth Asia Strategist Philip Niem said the recent selloff appeared to reflect deeper concerns than just the tumble in Chinese shares.

He said investors may be worried about the risk of earnings disappointment this year across the world due to rising interest rates and commodity prices.

"The correction is likely to find a bottom during March, however the cloud of possible earnings disappointment should keep the recovery more muted than the strong bull market enjoyed in the second half of 2006," he predicted.

Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Securities, agreed that the Shanghai plunge alone could not explain the recent global rout.

"Investors had held optimistic views about the outlook for the US economy, but they began to doubt these views in the light of recent tame economic data, including housing market figures," he added.

The dollar gained to 118.73 yen in Tokyo morning trade from 118.49 late Wednesday in New York after US Federal Reserve chairman Ben Bernanke said his economic outlook was unchanged after tumbles on global stock markets.

The euro edged down to 1.3229 dollars from 1.3231. - AFP/ir

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djchris

Now market very shaky...retail investors panicking..
Unless confident, don't invest in shares now..just park into lower risk investments such as fixed deposits, bonds and t-bills...

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djchris

SINGAPORE: Singapore shares opened higher on Thursday, reversing two days of sharp losses as global share markets experienced their worst slide in years.

But Tokyo's Nikkei stayed under pressure a day after posting its biggest one-day fall in eight months.

Still, calmer nerves were expected to return following a rebound in Chinese mainland stocks and gains on Wall Street, helped by soothing words from Federal Reserve Chairman Ben Bernanke.

Bernanke told a US congressional panel that this week's sharp stock market drop had not changed the Fed's view that the US economy was sound.

At 0116GMT, Singapore's Straits Times Index rose 45.74 points to 3,149.89.

The index, which until Monday had risen more than 41 percent since last July, fell a total of 6.25 percent over Tuesday and Wednesday in line with the heavy global falls.

Tokyo's Nikkei-225 index declined 91.16 points or 0.52 percent to 17,512.96 as of 0030GMT Thursday.

Shortly after the market opened, the Nikkei lost as much as 129.35 points or 0.73 percent.

Global markets dropped this week after China's booming mainland stock market suffered its biggest fall in a decade on Tuesday, rattling investors.

But the Shanghai Composite Index managed to rebound 4 percent in the following session.

US stocks also steadied on Wednesday, driving the blue-chip Dow index up 0.43 percent and the tech-heavy Nasdaq Composite Index up 0.34 percent. - CNA/ir

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Ican

Its expected....Will monitor the situation and it falls further...

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djchris

It should fall further...market sentiments not good, retail investors in stress and institutional investors siam liao...

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kyo83

Hmm.. Haven't market analysts already thinks that the bear market is coming soon? By the way, and this is just my opinion, I really feels that at this height in the stock market, it should be time traders get out of it. What do you guys think?

Josh.

Enjoying the pleasures of doodling~

Doodles:
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Josh.

restless

i onli pray i will go up soonz....zzzz....saded..