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NEW YORK: Fear has taken over on Wall Street. The Dow Jones industrials fell 634.76 points, the first trading day since Standard Poor's downgraded American debt. It was the sixth-worst point decline for the Dow in the last 112 years and the worst drop since December 2008. Every stock in the Standard Poor's 500 index declined Monday.
PETALING JAYA: Although it remains to be seen if a proposed share swap among key shareholders of Malaysia Airlines (MAS) and AirAsia can save the former from its troubles in the long term, MAS stands to benefit the most from the transaction.
PETALING JAYA: Asian bourses extended their losses yesterday in reaction to Standard Poor's (SP) downgrade of US credit rating while trade in European equities was volatile even after European Central Bank (ECB) president Jean-Claude Trichet said the central bank would buy Italian and Spanish bonds.
SINGAPORE: Oil prices tumbled to their lowest in almost a year before rebounding to above US$80 a barrel Tuesday in Asia amid a global sell-off of equities and commodities triggered by investor fears the U.S. will soon fall into recession.
KUALA LUMPUR: The price of gold may surge further following Standard Poor's (SP) downgrade on US credit ratings as investors look for a 'safe haven' in the precious metal.
Investors continued to prefer gold over equities despite assurances by policymakers from Asia and Europe in taking action to stem another global financial crisis.
LONDON: THE London stock market, which plunged almost ten per cent last week on fears of another vicious global downturn, will focus again this week on worries of weak economic growth and eurozone debt contagion.
Despite the easier US markets the previous Friday, shares on Bursa Malaysia began August on a steadier platform, with the benchmark FBM Kuala Lumpur Composite Index (FBM KLCI) advancing 0.98 of a point to 1,549.79 in initial deals.
KUALA LUMPUR: At market close, the FBM-KLCI's dip was relatively tamer compared with regional bourses, and dealers say a buying opportunity may emerge in the coming days. This comes as world equities took a beating from fears of a US recession and the ongoing eurozone debt crises.
PETALING JAYA: Investors dumped stocks and moved to US Treasuries and gold as the drop in US consumer spending and manufacturing activities in the June-to-July period signalled slower growth and made equities less desirable.