US subprime woes of no great concern; global economy strong - Indonesia minister |
|
|
|
Published
:
Fri, 10 Aug 2007 07:04
|
JAKARTA (Thomson Financial) - Worries about global fallout from the US subprime market woes are overdone, with the world economy strong enough to weather it, Indonesia's Coordinating Minister for Economic Affairs Budiono said Friday.'I am still hopeful that this (subprime problem) is something that we can get through because global economic fundamentals are strong. This is just about short-term volatility,' he told reporters.Markets around the world have been reeling over the last 24 hours after French bank BNP Paribas revealed it had frozen withdrawals from three funds with exposure to the US subprime market.The news prompted a record injection of funds into European money markets by the central bank Thursday. The US Federal Reserve and many other central banks around the world including in Japan and Australia have also stepped up their money market operations in order to remove fears of a potential credit crunch in the wake of the subprime problems.The Jakarta stockmarket was not spared from the chain reaction with the composite index closing the morning session down 50.79 points or 2.3 percent at 2,190.61.aloysius.bhui@thomson.comalo/mb-ab/mbCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
|
|
|
|
|
|
|
| Stock
Quotes * |
|
NASDAQ
|
|
2792.28 |
22.57 (
0.81 %)
|
| SYMBOL (
2012-01-19 ) |
| LAST |
CHANGE
|
|
CARNIVAL
(
11:35am )
|
|
2017.00 |
46.00 (
2.42 %)
|
|
WHITBREAD
(
11:35am )
|
|
1662.99 |
33.99 (
2.09 %)
|
| SYMBOL (
2012-01-19 )
|
| LAST |
CHANGE
|
|
IBM
(
12:34pm ) |
|
181.50 |
0.43 (
0.24 %)
|
| SYMBOL (
2012-01-19 )
|
| LAST |
CHANGE
|
|
|
Print this Story
Singapore economy on track for strong H2 despite credit market jitters 