Monday, March 9, 2009

Straits Times Index closes at 1456 - 6 years low!


This is fresh six year low... So what is next? On the way down to 1,195. Tighten your seat belt!!!!

Japanese shares, already among Asia's worst performing this year, crumbled further after the world's second-largest economy posted a record current account deficit in January, its first in 13 years. Oil prices, meanwhile, were higher ahead of an anticipated production cut from OPEC.

Japan's Nikkei 225 stock average fell 87.07 points, or 1.2 percent, to 7,086.03, and Hong Kong's Hang Seng tumbled 576.94, or 4.8 percent, to 11,344.58 on the coattails of HSBC, a huge component in the index. Stock measures in India, Singapore and Taiwan also fell; those in South Korea and Australia gained 1.6 percent and 0.3 percent respectively.

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