Greek Debt Crisis – Bloody Monday in Asian Markets
June 29,2015 (LBO) – Greek’s decision to close banks has caused erosion in investor confidence across Asia as evident by Billions wiped out in Monday morning trade in key Asia Pacific Markets.
Despite the China’s weekend rate cut, Shanghai lost 0.4 percent.
Nikkei and Hang Seng lost 2 percent and 1.
7 percent respectively.
All markets across East Asia, new Zealand and Australia fell during Monday morning trading.
Oil prices declined by little over one percent, while gold appreciated marginally.
Looks like someone typed “Lazy” and selected the synonyms option to select a word that 80% of Sri Lankans havent heard of 🙂
“3-wheeler registrations recorded 2,909 units in Feb down from 3,468 units in Jan and 7,794 units 12-month ago. For brevity I will repeat what I said last month – this is the lowest monthly registration recorded in the past 5.5 years ”
THIS IS THE BEST NEWS IN YEARS. 3 WHEELERS ARE THE MENACE TO SL DRIVING.
20% of Bajaj India’s profit is from SL 3W and these guys will exert a lot of pressure on government.
GOSL should sue Bajaj / Others as these 3W are not road worthy and not with proper collusion testing.
Other Asia capitals such as Bangkok don’t have such a menace.
We should ensure more safety into these vehicles such as bigger signal (Turning lights) positioned at higher visible locations, higher turning radius, better stability… etc…
Car engineers should evaluate this vehicle and move to phase this risk out unless the Indian companies increase the safety of these vehicles.
Greece may be luckier than most other countries if icomeaccross a simillar situation.Even though it is the first advance economy to miss a IMF payment the collateral damage in the event of a Greek financial meltdown (to EU,rest of the worald in financial & political terms) could mean loads of money may be raised for Greece to defuse the crisis.
Immediate concequances of debt crisis in Greece
Banks are shut for six days,ATM widthdrawals $ ,66,capital controls in place,Greece may miss IMF payments, unless accepts bitter pill.
Billions in market vslues across the world is wipped out.The USD index that measures its strength against a basket of 6major world currencies has crossed 96(few weeks back arround 93).It is well above the support line@ 95
& depending on US economic data + world situation can aim 98 another resistance line.