Emerging Money's  Instablog

Emerging Money
Send Message
With hedge fund manager, CNBC regular and long-time veteran of the Russian markets Tim Seymour at the helm, Emerging Money (http://www.emergingmoney.com) provides education, trading analysis and comprehensive views of emerging markets around the world. As economies in the BRIC group and beyond... More
My company:
Emerging Money
My blog:
Emerging Money
  • Look out below in Asian markets 0 comments
    Jan 10, 2011 3:55 PM | about stocks: IDX, EPHE

    Bangladesh is following the Indian market downward, but with its smaller scale, the market in Dhaka is plunging whenever Mumbai takes a negative turn. Multiply that by Indonesia and the Philippines and you have a big regional slide.

    Indian stocks sank 2.38% today but the Dhaka exchange plunged a record 9.25% last night in the first half hour of trading and shut down.

    Bangladeshi investors took to the streets and were only dispersed by tear gas.

    Meanwhile, in Indonesia, stocks fell 4.2% and in the Philippines, the market slid 2.2%. The associated ETFs IDX and EPHE are plunging in early U.S. trading as well.

    Many of last year’s outperformers are having a rough start. Part of it is inflation and policy concerns, but it is mainly the feeling that these markets are overvalued given the prospect that rising interest rates will now start choking off growth.

    India, which was hitting record peaks as recently as November, is now down 8.2% year to date.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
    Stocks: IDX, EPHE
Back To Emerging Money's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.