Stocks fell even as US President Barack Obama outlined a jobs plan that would inject US$447 billion into the economy, and Federal Reserve Chairman Ben Bernanke said policymakers would discuss ways to boost growth at their next meeting.
Asian shares mostly fell Friday, as China's August inflation rate remained on the high side, while President Barack Obama's plan to boost jobs in the world's biggest economy failed to inspire markets.
Sentiment was also weighed by news that Eurozone growth forecasts were slashed due to concerns over the ongoing debt crisis, while Japan's economy shrank more than first thought in the April-June quarter.
The region's stock markets this week will likely factor in the overhang of the European debt crisis and its potential ramifications for the global economy before deciding their future course,
Asian stocks also slipped this week after an election loss for German Chancellor Angela Merkel’s party and reports of a rift between Greece and the IMF fueled concern that support for bailing out indebted European nations is waning.
PSEi Stock market outlook week september 12 2011
BLUE CHIPS slumped on Friday after two days of being in the green, tracking the US markets that fell overnight after Federal Reserve Chairman Ben Bernanke gave no clues as to new measures the US central bank will use to stimulate the slumping US economy.
Pakistan stock market outlook week september 12 2011
Pakistani stocks will continue the upward momentum during the next week as some of the largest listed companies announce full-year financial results, traders said. A lot also depends on the security situation in Karachi, they added.
Malaysia stock market outlook next week sept 12 2011
Bursa Malaysia is expected to extend its bearish trend next week in the absence of positive news while players will continue to take the cue from Wall Street's performance
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