Accept and adjust quickly to economic situation, says CIMB chief Nazir Razak

  • Nation
  • Tuesday, 25 Aug 2015

PETALING JAYA: CIMB group chairman Datuk Seri Nazir Razak has posted a picture of a "fallen" Wall Street Bull on his Instagram account to reflect the current economic situation in the country.

The picture, which has received more than 650 likes, was accompanied by a caption containing words of advice for those in power.

“Dead or wounded? China will determine, but a new normal (of relative values) will prevail for most emerging markets. Accept and adjust quickly.

“Meanwhile, capital is super sensitive; bad news and bad signs amplified, so 'power' people must avoid saying stupid things,” wrote Nazir, who is the brother of Prime Minister Datuk Seri Najib Tun Razak.

He did not specify who he was referring to.

The Wall Street Bull or “Charging Bull” is an iconic bronze monument located near Wall Street, New York.

It was erected in 1989 by artist Arturo Di Modica to symbolise financial optimism and strength, following the United States’ stock market crash in 1987.

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