There was little action over in the US. The Dow was a mere 16pts lower while S&P500 was unchanged. Everyone seems to be waiting for the FED to show their hand. Although expectations are for a 25basis pts cut in rates next week and another in October, I believe that it could all be priced in already. Unless, the FED does the unthinkable and cut rates by 50 basis pts or more, I do not see the stock markets rallying from here.
For KLCI and STI, what can I say? Another dull day ahead unless markets are worried by the quakes in Sumatra (yesterday) and Jakarta(this morning). I am not sure if there is a quake in Jakarta but some of my colleagues over there has decided to take cover after feeling the windows tremble.
I also received a Tsunami warning last night to stay away from beaches but was later withdrawn. I guess there will be no sun tanners on the beach today, huh? :)
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