Many years ago a wise far older gent said to re the ASX 'if one goes down, they all do'. I may have laugheed nervously at the time but remember old Dick (his name) making it: one of those seminal comments that stick with one even though thousands of other observations people make disappear into the ether.
This can be largely true, and with the market rout this morning (fears of a severe USA recession in calendar 2023, the mainland Chinese disastrous COVID situation, ongoing Ukraine war, natural gas prices dropping apparently like a stone and interest rate rises/inflation/supply chain problems/dampening consumer confidence here in Oz) it's not a great surprise that MYR had dropped A$0.0325 to A$0.6475 (3.78 per cent) by just before 1200 (noon).
MYR Price at posting:
64.8¢ Sentiment: Hold Disclosure: Not Held
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