Nikkei Drops Another 10.55% Today

Posted by Kris | Tuesday, March 15, 2011 | , | 0 comments »

Unbelievable whirlpool formed after the tsunami. An after effect Quake-Tsunami-Whirlpool-Potential Nuclear Meltdown- NIKKEI dropping a total of 1/5 of its value from before the quake.

Things gets worst and worst. Japan is literally having the triple wammy. A few reactors have exploded. Electricity is in rollout mode. Hence multinational stock prices are plummeting because they had to stop production.

Toshiba (TM) & Sony (SNE) was hit badly on the Tokyo Stock Exchange. Now it gets hit in the Dow Jones. it is currently rebounding from lows because the fall was expected since its dismay performance at Tokyo.

Our KLCI is also suffering losses. What happened to the various analyst's bullish calls that other global economies/countries can "profit" from the disaster by assisting (assisting here means supplying building material to rebuild Japan, of course not free though)??

I am not so optimistic though, as a disaster to one of the biggest economy in the world will slowly have negative effect to the entire world. With globalization, we cannot hope to profit from one's huge misfortune. If Japan's economy failed miserably hereafter, it will effect the entire world's economy.

As for KLCI, I am sitting out and waiting for any sign of reversal. The trend is currently down-trending.

World markets

Shanghai2,897.06-40.57 (-1.38%)
Nikkei 2258,605.15-1,015.34 (-10.55%)
Hang Seng Index22,678.25-667.63 (-2.86%)
TSEC8,221.94-298.08 (-3.50%)
FTSE 1005,675.71-99.53 (-1.72%)
DJ EURO STOXX 502,759.39-92.72 (-3.25%)
CAC 403,761.92-116.12 (-2.99%)
S&P TSX13,398.20-220.99 (-1.62%)
S&P/ASX 2004,528.70-97.70 (-2.11%)
BSE Sensex18,167.64-271.84 (-1.47%)