ASEAN worst week for years both in Equities and Currencies

Indonesia, Thailand and Malaysia were beaten down in the week with the reason of Fed policy on bond buying. In fact, I do not see the direct link of this theory of “scares”.

RM crashed over major currency especially Dollar. from below RM 3.1 to now RM 3.3. If months ago is even below RM 3.0. RM has almost a 10% beaten down lately.

Equities wise. KLCI fall almost 60 points weekly and Indonesia at one time around 20% accumulated loss. All on credit rating, currencies, misses GDP figures & etc.

Market will be week and may try 1700 support level. But the severity and fluctuation will reduce in this week.  However, we do no believe this is a crisis.  We think is good chance to pick up bargain slowly.  As we don’t know when is this round ending of correction.  So we again buy stocks in stages.