Posted on 08/09/2011 12:47:52 AM PDT by NoLibZone
BANGKOK (AP) — Asian stocks markets are stabilizing after a day of dramatic plunges Tuesday as futures point to a measure of calm returning to Wall Street following the Dow's sixth worst decline in the last 112 years.
South Korea's Kospi was off 3.6 percent at 1,801.35 after plummeting nearly 10 percent in the morning. Hong Kong's Hang Seng, which fell as much as 7 percent, was down 2.9 percent at 19,890.85 and Japan's Nikkei 225 stock average pulled back to a fall of 1.7 percent.
Australia's S&P/ASX 200 index moved into positive territory — up 1.2 percent at 4,034.80 — and mainland China's key indexes eked out modest gains.
Irrespective of the long term problems, in the short term the market is getting a wee bit oversold. I expect the shorts to take some profits here soon.
dont worry... all is good... we can pay our debts.. not problem...
just like greenspan said...
the debts are in dollars...
as long as we can print dollars, we can pay our debts.
isn’t it a great country!
/sarc
Thanks NoLibZone.
Dow plunges over 500 pts last Thurs one day BEFORE the S&P downgrade. Coincidence,or inside knowledge? You decide...
The Hang Seng dropped over 5% today - and the rest of the Asia markets are all down - singapore is closed because of national day
Coincidence. I sold several thousand dollars worth of stock last Wed. and I didn’t have any inside information.
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