The sun doesn’t seem to shine on Wall Street since last week. The stock slide that started off in China to hit Europe and US later continues with the fall from the Japanese stock market. "If New York continues to slide and the yen continues to strengthen at this pace, there is no bottom in sight for Japan," said Kirby Daley, a strategist at brokerage Fimat in Tokyo. A near 9 percent slump in China's main stock index last Tuesday, combined with worries about stalling U.S. growth, sparked a wave a selling in world equity markets, many of which had been trading around record highs.
Australian stocks fell 2.3 percent to a seven-week closing low, erasing all their gains for 2007, with the world's largest miner, BHP Billiton, dropping 2.9 percent.
Share indexes in Hong Kong, Taiwan and Singapore lost between 3 and 4 percent and South Korea's benchmark fell 2.7 percent. The worst thing is the fact that nobody knows the reason behind the price drop. Yes it is the fear that the US economy might enter a recession but is this enough of a reason? "This is not like September 11, when there was a clear issue, so the sell-off was reasonable," said Lim Chang-gue, a fund manager at Samsung Investment Trust Management in Seoul.
"Something bad seems to be happening, but there is no one clear reason. It's this unknown that is making it worse so people are just selling out."
In spite of the price shake affecting the stock markets SigEx Ventures registered a steady increase in share price, which makes it a trustworthy investment. SigEx Ventures, Inc., a private equity investment fund headquartered in Sarasota, Florida, primarily invests in first round funding for advanced technology companies. Read the SigEx Ventures Financial Press release here (http://prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/02-27-2007/0004536050&EDATE= ).
Diana Zotescu, student at SigEx Foundry ( http://sigexfoundry.info ).
"Public Relations & Advertisement" project of The Foundry School ( http://thefoundryschool.tv), ( http://sigexventures.info ).
