Asia facing sharp falls after Wall St. rout

Asian share markets face a rough ride on Thursday after a tumble in technology stocks inflicted the largest daily decline on Wall Street since 2011, wiping out all its gains for the year.  Nikkei futures were down 2.7 percent and pointing to opening losses of around 600 points for the cash index. MSCI’s broadest index of Asia-Pacific shares outside Japan seemed certain to start at its lowest since March last year. The dive in formerly high-flying tech stocks sent investors scampering to the safety of sovereign bonds, with yields in 10-year Treasuries falling the most since May to 3.11 percent. “Concerns that earnings growth may be peaking against an unsettled global backdrop and that fiscal stimulus will wane continued to weigh on sentiment,” said analysts at ANZ in a note. Read More @ https://www.reuters.com/article/us-global-markets/asia-facing-sharp-falls-after-wall-st-rout-idUSKCN1MY33R?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

WHAT IS THE PSEi SAYING?

PSEi still stays at the trend after 4 consecutive fall since 2014; the question now is – “WILL THE PSEi FALL BELOW 7000 ONCE AGAIN” for us the answer is YES!! – Our traders wait for the correction before we buy the market; the price of Stocks are all over-priced and market correction will keep all prices to normal again. Opportunities are coming and cash is king.

PSEi may plummet to 6,500 level, analyst says

A last-minute jump helps the Philippine Stock Exchange index snap a 3-day losing streak. Analysts, however, are not buying the slight recovery, with one even saying the PSEi could fall to as low as the 6,500 level if a crucial support level is breached. Michelle Ong with the full story. – Business Nightly, ANC, October 9, 2018

We believe the market should take a correction but the long term view for PSEi for us is excellent.

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