Yesterday, Hong Kong’s Hang Seng falling nearly 13 percent and Japan’s Nikkei index closing at its lowest level in over a quarter century.
KLSE was having a day off on Monday due to the Deepavali, the day when the light triumphs over the darkness.
Lucky us, but that’s as good for yesterday itself.
This morning, KLSE wasn’t spared of the downshift trend. As of 12:30pm, KLSE is suffering a drop of more than 50 points, currently at the verge of 800 points with N% of market capitalization wiped off, creating fears the index might continue to slip further, hence the ongoing market sell-off.
But hey people, chill. We’re Malaysians, we’re flexible bunch of people, especially our ministers.
Malaysia will not slip into a recession this year or the next year,
Malaysia was fortunate as the country possessed strong economic pillars.
So say our Second Finance Minister Nor Mohamed Yakcop.
Viva Malaysia!
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Not even our deputy finance minister but our finance minister as well. They both seems to agree that fundamentally our Malaysia economy is very strong. So no need to worry folks. They will take of us!
Worst come to worst, we will just have to listen to their sage advise, "The rakyat, will have to learn to change their lifestyle".
So currently, we need to worry more on who gets what within UMNO/BN. In fact, this is what our ministers main priority at the moment. I guess once UMNO/BN is sorted out, and with "strong economic pillar", Malaysia will prosper despite global financial slump.
Of course we would, we are in Boleh-land, aren’t we?