The free fall in the equities market continued Wednesday with the All Share Index (ASI) shedding weight once more; losing by 0.47% to close at 28,219.44% basis points. Dutch cartoonist Joost Swarte, who drew this cover, is quoted as saying that the stock market is all about fear and anxiety, best shown in how a mouse reacts to a cat” – which on the one hand is only half true (there’s a lot of greed in there as well), but on the other hand is just as insightful as anything you’re likely to hear on CNBC. So while stock-market reporting is being banned outright in China, let’s not go that far in the USA.
Jim Fallows, linking to my On The Media rant , (thanks, Jim!) talks about the utter stupidity of reporting minute-by-minute fluctuations in the stock market”, but in fact there are reasonably frequent cases where this is what the stock market did over the past few minutes” reporting can convey useful and informative information. Those were the causes of the mainland’s summer stock market rout, according to a 300-page report by three high-profile financial figures in Beijing.
By far the least informative form of stock-market reporting – the one which should never be done – is not the minute-to-minute stuff, or the long-term stuff, but rather the day-over-day stuff. Instead of blaming a few individual bad guys” for the crash, the first semi-official report gives a comprehensive overview of the systematic failures that sent the benchmark Shanghai index tumbling over 30 per cent in four weeks. The spectacular collapse not only wiped out trillions of yuan of market value in just a few weeks but also triggered doubts about the ability of the leadership to manage the economy. The index is used to judge the overall movement of the NYSE AMEX equities market.
The report also made a series of policy suggestions, including expanding the CSRC’s regulatory role and establishing a national capital market crisis management mechanism. But the government hasn’t really tackled any institutional issues in the stock market since the rout. Thanks for all your help in making this app better with every update and please take a minute to rate your favorite stocks app.
Featuring timely stock market data from highly reliable sources, Stock Market HD: Stocks & Shares is the simplest app to track a range of stocks and have all the key data you need at your fingertips. If all you need to do is follow a handful of stocks or indices, this app is hard to beat. GUINEA INSURANCE PLC’s 2nd quarter ended June 30, 2015: Gross Premium Written (GPW) N503.0m; Profit Before Tax (PBT) N0.6m; and Profit After Tax (PAT) N0.4m. While its 3rd quarter ended September 30, 2015 were as follows: GPW N711.3m; PBT N65.6m; and PAT N44.6m. This is contained in a domestic and foreign portfolio participation in equity trading for September 2015 posted on NSE web site on Monday.