Today,in the latest turn of events, President Bush and Congressional leaders have reached an agreement on a US$700bn bailout package to revive financial markets. However, the Senate will vote on this issue by 1st October. Majority of Asian markets are still skeptical about the outcome.
Stock markets in Japan and Australia have also given up their early gains as it remains to be seen whether the bailout would ease the global credit crunch.
Given the uncertain environment, one should remain on the sidelines and let the dust settle before taking any call on the market. Fresh investments should be avoided, as the market is highly volatile.
Stock markets in Japan and Australia have also given up their early gains as it remains to be seen whether the bailout would ease the global credit crunch.
Given the uncertain environment, one should remain on the sidelines and let the dust settle before taking any call on the market. Fresh investments should be avoided, as the market is highly volatile.
