Black Monday in Hong Kong.
The Hang Seng index plunge 1,602 to 11, 015.
The index has lost 65.5% from its previously peak on Oct 30, 2007. It has surpassed all records except that in 1973 where Hang Seng lost more than 90%.
The index's No.1 heaveyweight HSBC, dropped almost 15% to just HKD75. The price earning ratio in Hang Seng Index is now in single digit.
In stock market, fundamental just reign and it is the emotion that rule.
Dow Jone closed at 8,378 last Friday and likely to open lower given that there was no good news over the weekend.
Sit very tight.
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1 comment:
Dow Jone fell to 8,175 on Oct 28 on a day of massive panic selling in Asia.
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