OZEMADE Posted June 16, 2011 Share Posted June 16, 2011 Aussie market's big slide on Greece fearstweet11EmailPrint..On Thursday 16 June 2011, 19:33 EST Fears over Greece's debt problems have wiped about $25 billion off the Australian share market.A steep fall of almost 2 per cent dragged the benchmark ASX 200 share index to its lowest level since September last year.Market analyst Peter Esho from City Index says the index has slipped through an important psychological barrier."Today's fall is significant.It's large.We've breached the 4,500 mark," he said.Miners were hard hit after commodity prices tumbled overnight.Australia's major banks were also heavily sold, as investors worry about the global financial impact if the Greek government defaults.The 1.9 per cent fall in local shares was echoed in Asia's other major markets.European share markets are mostly down around 1 per cent in early trade, following on from steep falls yesterday.Mr Esho says across the globe, traders are worried about debt problems in other European nations."We're starting to see some signs of contagion across Europe with the situation in Greece," he said.Debt markets are currently factoring in a 74 per cent chance that Greece will not meet its debts.Three major French banks have had their ratings put on review because of exposure to Greece.Bets on an Irish government debt default are far higher than just after Lehman Brothers collapsed.The Australian dollar also eased to 105.3 US cents. Link to comment Share on other sites More sharing options...
Semper Posted June 16, 2011 Share Posted June 16, 2011 Should we (non Australian) in Thailand be concerned? Link to comment Share on other sites More sharing options...
OZEMADE Posted June 16, 2011 Author Share Posted June 16, 2011 Should we (non Australian) in Thailand be concerned? Depends on what part of the world you come from. Dosen't really effect a lot of Aussies as we are still getting $1.06 to the US $. But if you are an Aussie, which a lot are in Thailand, they may want to see how their investments are going. Link to comment Share on other sites More sharing options...
craigt3365 Posted June 16, 2011 Share Posted June 16, 2011 How about we move this over to the investment forum.... Link to comment Share on other sites More sharing options...
OZEMADE Posted June 16, 2011 Author Share Posted June 16, 2011 How about we move this over to the investment forum.... Should have gone into world news. Link to comment Share on other sites More sharing options...
wordchild Posted June 16, 2011 Share Posted June 16, 2011 (edited) the fact that the Lehman/Greek debt crisis analogy has made it to Thai Visa (General Topics) confirms my suspicions that equity markets are in for a strong bounce! Time to fill your boots! Edited June 16, 2011 by wordchild Link to comment Share on other sites More sharing options...
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