An update to the latest situation:
1) Asia Markets recovered remarkably in the afternoon with Singapore recovered from -4% to +1% at one point of time. Hongkong recovered from -7% to near to 1% at one point of time. Both markets closed at par. Other Financial markets recovered between 1%- 3% to close better in the evening.
2) G7 Central banks around the world are coordinating a relief effort to calm the fears for the market
3) Loylds Bank is buying over HBOS (UK largest mortgage lender)
4) Barclays bank is up 4.64% on the news that they are aquiring Lehman operation at a significant discount and this will boost their future earnings.
The market seems to be stablizing after the irrational selling that took place for the last 2 days. The US Futures us up about 0.8% for now. So, we can probably see some stablization tomorrow as long as no extremely adverse news hits the market. After the dust settles, bargain hunters will start looking for cheap and fundamentally good stocks to buy. We will probably see a small rebound than.
Warmest Regards
1) Asia Markets recovered remarkably in the afternoon with Singapore recovered from -4% to +1% at one point of time. Hongkong recovered from -7% to near to 1% at one point of time. Both markets closed at par. Other Financial markets recovered between 1%- 3% to close better in the evening.
2) G7 Central banks around the world are coordinating a relief effort to calm the fears for the market
3) Loylds Bank is buying over HBOS (UK largest mortgage lender)
4) Barclays bank is up 4.64% on the news that they are aquiring Lehman operation at a significant discount and this will boost their future earnings.
The market seems to be stablizing after the irrational selling that took place for the last 2 days. The US Futures us up about 0.8% for now. So, we can probably see some stablization tomorrow as long as no extremely adverse news hits the market. After the dust settles, bargain hunters will start looking for cheap and fundamentally good stocks to buy. We will probably see a small rebound than.
Warmest Regards
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