Stimulus plan fails to ignite market

From The Edge:

The government’s RM60 billion stimulus package unveiled on Tuesday to stave off a prolonged recession failed to ignite investors’ interest in local equities yesterday on concerns of more downside for the stock market.

Despite the initial surge in the morning session, interest faltered in the afternoon as investors were quick to lock in marginal gains.

As investors digested the details and effectiveness of the measures in the mini-budget, concerns amid a heightened aversion to risks include an economy teetering on recession, a ballooning budget deficit, continuing lack of corporate earnings visibility and political uncertainties.

While the huge stimulus package of 60 billion ringgit did surprise almost everyone, the reaction was an even bigger surprise...another yawn by the stock market. Can't dig ourselves out of a hole!