Bangladesh clashes as stocks dive 9.25%

Wonder how this will effect the other markets around the world.

DHAKA (AFP) - Police baton-charged investors in the Bangladeshi capital Dhaka on Monday as angry crowds vented their fury after the stock market tumbled more than nine percent in an hour.

Trading on the Dhaka Stock Exchange was halted when stocks fell a record 9.25 percent soon after opening in a plunge that sent outraged investors onto the streets. Some burned furniture as riot police struggled to keep control.

au.news.yahoo.com...

news.yahoo.com...

The government regulator, the Securities and Exchange Commission, held an emergency meeting Monday with merchant bankers and institutional stockbrokers to decide what actions to take to save the market from further falls.

Trading was also suspended on the stock exchange in Chittagong, Bangladesh's second-largest city.

A government website said trading in Dhaka and Chittagong would remain suspended until further notice.

abcnews.go.com...

reply to post by liveandletlive


I've been watching this develop this morning... and have been wondering if the Rapid Action Battalion has been deployed (the one Wikileaks reports Britain has been training)

and I have been wondering if this is the start of an economic contagion or an isolated incident??

Originally posted by thoughtsfull
reply to post by liveandletlive

 

I've been watching this develop this morning... and have been wondering if the Rapid Action Battalion has been deployed (the one Wikileaks reports Britain has been training)

and I have been wondering if this is the start of an economic contagion or an isolated incident??

I dont know what effect this will have on other markets. Usually when one tanks, others follow. Guess we will have to wait and see.

"The finance minister lured us into the stock market, he told us it was safe, but now we have lost everything. They artificially jacked up the prices of junk shares and now our savings have vanished," Kabir said.

Soon we'll hear this kind of comments from Americans and Canadians and Europeans who believed in the BS recovery...

Yep, no recovery here people, just made up numbers, manipulated stock market...

reply to post by Vitchilo


"The benchmark Dhaka Stock Exchange general index (DGEN) rose 80 percent in 2010 but has fallen several times over the last few weeks. It tumbled 7.8 percent Sunday and 9 percent in early trading Monday, prompting an indefinite suspension on trading."

Well it fell 7.8 percent the previous day. Almost 17% in 2 days. Im trying to find out what markets open after them to see if anything else is taking a hit.

Story snip out of today's MSM.(google translate)
Think domino D-day is happening

"Japan is bankrupt, and Europe?"

Japan is bankrupt and that even the Japanese government has been increasing.

It is end of exercise. Read the column by Professor René Tissen: And Europe and America? Also bankrupt!

Column Rene Tissen End exercise As a result of a total state debt of 200% of GDP (which are also growing

rapidly flashing) and an aging population with no way to talk their economy manages to keep the exercise end

for Japan. The immensely stimulating the economy, just more misery, partly because Japan is the vast majority

of debt has had buyout by the private pension funds. So too are bankrupt and that the people know. Misery For

the Japanese now threatens the black hole of personal bankruptcy. What should you do if you are as a person

grows older, but have no prospect of a decent retirement? Is it well with the economy? No, so. America

Suddenly also ensure that the bankrupt America and is as expressed by Minister of Finance Tim Geithner. The

country reached rapidly the self-imposed debt ceiling of 14.3 trillion U.S. dollars, probably around March of this

year. That moment could well be the final blow that mean for America and says the minister himself. He speaks

of the likelihood of acute cash flow problems and warns of the possible consequences. The downgrade the

creditworthiness of America is imminent and had already taken place if the rating agencies had been more

objective. The statements by the Minister are spectacular and are contrary to the official reports of the Federal

Reserve. It speaks of a sustained economic recovery and even employment. Simultaneously, the policy of

monetary expansion (QE2) continued mercilessly. That drives the country deeper into the abyss. Misery The

population observes at first hand three things: 1) work and income are under pressure 2) the housing market

collapsed further 3), the local authorities. Even entire states (the "Cinn-states" California, Illinois, New Jersey

and New York) are currently on. To prevent the debt mountain "out of control becomes necessary at national

level is no longer stimulated, but cut back. Before it is too late. Now cut makes the case more quickly

collapses. Will there be a dubbeldip in America? No, officially the country will see moderate economic growth

and rising employment even. But actually there is a depressed patient who is at the end of a manic episode is.

European advertising? And Europe? Also bankrupt! But we have not told us. Europe hopes that the problems

just continue to restrict certain countries and some banks and the rest through the misery knows how to bluff,

like Spain and Portugal. George Soros yesterday showed once again that Ireland know about him is completely

destroyed, among others, from the policy of the Irish government to own banks afloat. At the same time called

on the British Finance Minister Osborne-Europe 'to underpin the euro, which is an English way of saying that

there really is something to be done in Europe, otherwise wrong. Misery For the European population problems

pile up. Europe has a housing problem, a problem of work, a pension problem, a banking problem, an economic

problem, a tax problem, a money problem, a political problem and so on. Solutions are not there. Belgium's

good to see what Europe is wrong. I can not pair to stay together. Because nobody knows how. But it is also

not part ways. Even their one knows how. Nevertheless succeeds Belgians for years to simply muddle through.

And it's also a nice (and prosperous for the eye) country in which to live. Thanks to Europe. Will the same way Europe Belgian can walk?

Original link source

reply to post by liveandletlive


here's the US financial community answer:

Jakarta Composite 3,478.55 4:00AM EST -152.90 (-4.21%)

SE Asia Ends Lower after Lackluster US Jobs Data at CNBC Mon 4:43AM EST

the manipulaters are on-the-spot to smooth the ruffled feathers of the investors with holdings
in the developing economies... i.e.: Bangledesh, Jakarta...
they are putting the AmericaCentric spin on the momentarily excessive downturn.

Yeah, sure, US jobs reports are the reason for the Asians to sell off their industries

reply to post by St Udio


I laughed when I read that considering the "fact" that the US unemployment "improved".

The jobless rate throughout the U.S. dropped in the month of December, according to Labor Department data released last Friday.

According to the data, the rate dropped 0.4 points from 9.8 percent to 9.4 percent.

"Our nation's labor market improved notably in the month of December,” Secretary of Labor Hilda L. Solis said in a statement. “Nonfarm payroll employment increased by 103,000, and the unemployment rate decreased to 9.4 percent.”

Solis said that the reason for the lower jobless rate is due to the Obama administration’s “continued commitment” to job creation. “Our investments have reversed the trend of catastrophic job losses and put this country on the road to recovery,” she added.

The 9.4 percent unemployment rate is the lowest level since May 2009. Throughout much of 2010, the rate has hovered around 9.5 percent.
www.theepochtimes.com...