Bangladesh stock vs Asian stock

Asian stock market rises now. Its a good news for us.

Asian stocks rose in quiet trade Tuesday as dealers took a lead from a jump on Wall Street and some rare positive economic data from the United States amid a slew of grim employment news.

With half the region's markets still closed for the Chinese New Year holiday and many traders staying away for the same reason, there was some bargain hunting as investors took advantage of a poor end to the previous week.

Tokyo jumped nearly five percent after hitting a three-year low Monday.

The Nikkei was helped by a weaker yen, which boosted exporters, as well as an announcement from the government that it will inject public money into companies other than banks to help them through the global economic meltdown.

The news cheered investors who are tentatively awaiting a raft of miserable corporate news over the coming days and weeks.

The dollar traded at 89.56 yen in Tokyo, up from 89.07 in New York late Monday. The euro firmed to 118.31 yen from 117.46.

Sydney added three percent due to stronger resources stocks, while Mumbai gained 3.8 percent despite the central bank lowering the country's growth forecast for this financial year to March.

The markets were helped by a 0.48 percent rise in New York, which had rallied on hopes for a stimulus plan from US President Barack Obama that is going through Congress.

Markets also took confidence from news of a surprise jump in existing US home sales in December, while an index of leading economic indicators rose 0.3 percent, defying expectations of a drop.

However, tens of thousands of job losses from firms including Caterpillar, IBM, Pfizer and General Motors highlighted the depth of the financial crisis.

New Zealand advanced 1.11 percent, Bangkok 1.85 percent and Manila 0.6 percent, while Jakarta added 1.6 percent.

But you see, in Bangladesh it falls.

Dhaka stocks slid for a second day in what market analysts said was irrational behaviour.

"There's no reason for the market to trade bearish," an analyst said. "No fundamentals are working in the market."

The market remained volatile over the past few days and the trading pattern indicated that it lost direction, an asset management firm said in an analysis.

The benchmark index, DSE General Index (DGEN), fell 25 points, or 0.93 percent, to 2,637.03 points. The DSE All Share Price Index also declined 20.78 points, or 0.94 percent, to 2,181.93 points.

“Liquidity is declining continuously as institutional and individual investors are following a wait-and-see policy. Lack of policy direction from the new government has frustrated market players,” the firm said.

Sharif Ataur Rahman, managing director of SAR Securities, said: “The investors should now go for long-term investment instead of short-term gains."

The investors should also not make investment decisions, influenced by rumours, he suggested.

The market opened rather steadily. In the opening 20 minutes, DGEN gained about 5 points. But the market found itself on the downward curve.

Of the 248 traded securities on the DSE, 74 advanced, 167 declined and seven remained unchanged.

A total of 2,10,68,892 shares worth Tk 254.39 crore changed hands on the premier bourse.

Beximco Pharma topped the turnover leaders on the DSE with 22,48,250 traded shares worth Tk 37.06 crore. The other turnover leaders were Shinepukur Ceramics, Beximco, Summit Power, Titas Gas, Aftab Automobiles, Quasem Drycells, Eastern Housing, S Alam Cold Rolled Steel and Grameen Mutual Fund One: Scheme Two.

Chittagong stocks also posted a fall. The CSE Selective Categories Index dropped 33.92 points, or 0.63 percent, to 5,286.28 points. The CSE All Share Price Index also slid 42.37 points, or 0.51 percent, to 8,138.67 points.

A total of 35,77,105 shares worth Tk 32.69 crore changed hands on the Chittagong Stock Exchange. Of the 145 traded scrips on the port city bourse, 35 advanced, 102 declined and nine remain unchanged.

Beximco Pharma topped the turnover leaders on the CSE with 2,34,400 traded shares worth Tk 3.87 crore. The other turnover leaders were Shinepukur Ceramics, Beximco, Eastern Housing, AIMS 1st Mutual Fund, BSRM Steels, Grameen Mutual Fund One: Scheme Two, Meghna Petroleum, Bextex and Jamuna Oil.

Do you think that Bangladesh is out of Asia?????????