Jan 27, 2010

Roar of the Tiger

As the fierce tiger of 2010 approaches, its "Roar" is deafening as the world markets retreats in  fear and nervousness.

Asian stocks declined for an eighth day, the longest losing streak since May 2005 as the MSCI Asia Pacific Index slid, taking its six-day retreat to 7.8 percent in the longest slump in a year. The Shanghai Composite Index sank as banks dropped on lending curbs and investors speculated policy makers may soon raise rates with a drop of more than 5% in the past 7 days and closing below the psychological 3000 levels.

Copper for delivery in three months fell 1.5 percent to $7,270 a metric ton today on the London Metal Exchange, leading a retreat in metals. China accounts for more than a quarter of global copper demand.

“People came into this year with too optimistic a view and now they are being punished for that,” said Charles Morris, who runs HSBC Investment Management’s Absolute Return Fund in London with about $2.5 billion in assets. “It’s perfectly healthy to have this correction.”

And just look at Malaysia.. still busy playing their dirty politics.

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