Greenspan's Advice and Asian Markets

Governments can shore up the markets by coming up with market-sensitive news about projects. However, an old hand like Alan Greenspan can take a swipe at world markets by a simple statement. All he said was that China's stock markets were overvalued by some 20 percent. so, bang the market went shooting down across Asia. There are some who disagreed saying only some stocks are of that valuation and the market is still good by world standard. But no... the market went tumbling down two days in a row.

Genting announced double the earnings per share and KPS announced it would give a 4 percent dividend for year ending 2006. Resorts announced lower profits. Market did not respond and went down 13 points.

As today is Friday, do not expect turn around. Best if they can reduce losses.

Heartsong