Dived! - Market Update
November 21st 2006 06:23
The Portfolio 1.5 - EW Monday joined the market in what was the biggest one-day fall in three months. The portfolio closed 4.62% lower to a value of 25.21% from Friday's 29.83%. Net cost profits fell below the tenth thousands at $9,687.
The market on Monday reacted and incorporated the negative global economic outlook lead by the US which is expected to spend less than before in the run-up to Christmas. A total value of $20 billion was wiped off by investors. The ASX S&P 200 benchmark index loss 97.3 points to 5322.4 on Monday.
Analysts consider the big day loss a blip and recovery is expected today as the fundamentals of the economy are firm. Yesterday's fall was also attributed to massive profit taking after the market surged by 10% since September, which is considered overpriced relative to the fundamentals and the Monday's fall present an opportunity for bargain hunting as there are still some distance for the price-earning ratios to run.
As of writing this post, the ASX S&P 200 benchmark index posted 35.6 points higher or 0.67% to 5358.
The winners stocks are highlighted in yellow.
The market on Monday reacted and incorporated the negative global economic outlook lead by the US which is expected to spend less than before in the run-up to Christmas. A total value of $20 billion was wiped off by investors. The ASX S&P 200 benchmark index loss 97.3 points to 5322.4 on Monday.
Analysts consider the big day loss a blip and recovery is expected today as the fundamentals of the economy are firm. Yesterday's fall was also attributed to massive profit taking after the market surged by 10% since September, which is considered overpriced relative to the fundamentals and the Monday's fall present an opportunity for bargain hunting as there are still some distance for the price-earning ratios to run.
As of writing this post, the ASX S&P 200 benchmark index posted 35.6 points higher or 0.67% to 5358.
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