Stock Market Blues
Down down down down!
This week, big share price indices such as the Nikkei 225, S&P 500, FTSE 100 and DAX have been pushed down to five month lows amidst global concerns with regards to the lack of investor confidence, price of oil, China's planned slowdown and political unstability in Iraq, North Korea and the Taiwan Straits.
Not only has this been a damper on major markets such as Japan and Europe, but it has also affected us here in Malaysia.
I still remember it clearly....
It was during the final quarter of 2004. Our Malaysia's stock market had been struggling throughout the year, but everyone had hopes that it would hit 950 by the end of the year.
When the KLCI breached 900, everyone heaved a collective sigh of relief, positive that the bear market had been successfully trounced.
Boy, were we wrong.
Look at where we are now, with the KLCI hovering at around 870 and our inflow of FDI dropping, one cant help but be worried about Malaysia's future in the global economy.
I think we as Malaysians have been too complacent during the past decade, when we enjoyed many years of bullish growth. Times have changed, and in order to survive and thrive, we have to change along with it.
Success will come, but not without a price. However, I do believe that Malaysia has what it takes to emerge from this decade as a stronger and more competitive nation.
After all, Malaysia Boleh!