Wonder if any index funds based on the Philippine Stock Exchanges benchmark index will be able to claim any losses? Then again, I’m not sure if there are any pure index plays based on their markets…
The Philippine Stock Exchange yesterday rolled out a new trading system that quickly plunged the market into disarray with wildly wrong data.
It took the bourse more than three hours after the close of trading to issue the correct figure for the benchmark index, after officials told investors to disregard the whooping 14 per cent gain erroneously calculated by the new system.
The coming week, and possibly the next few weeks will be marked by mayhem in the stock markets as investors veer between joy and horror within short spaces of time due to the earnings season.
Fundamentals (and possibly common sense) are thrown out the window as fear rules the markets. Alcoa, who led the earnings season with favourable figures, is also being dragged down now even though nothing fundamentally has changed about it the last few days when it first rallied after good earnings reports!
Unless you have a good appetite for risk, it may be wise for you and your money to stay out for now or take small positions…
lioneltan: Publicity machine rollg… Elections soon?
lioneltan: Awards presentation now…
lioneltan: Break from dinner for a speech. Cheerleaders performance just now was quite good!
lioneltan: Early 4 sports club dinner… Shopg first
I have not visited the place probably for around 10 years, but Bukit Timah Plaza used to be one of my favourite haunts as some of us guys would go there to check out the PC games that were available in the shops. We would then lug our haul to a friend’s place and spend our time having fun!
There was one day at work when we had some visitors from other countries coming to the office. There was this particular guy from the African continent who was exceptionally tall and he towered over everyone else.
One of the girls in office may have made a Freudian slip when describing him as “tall, dark and long”. There was an awkward silence before laughter burst out as she realised her gaffe and tried to explain that she just wanted to emphasise his height.