Protests as Bangladesh stocks plunge nearly 6%

[Joanne98]

Source: AFP

DHAKA — Shares on the Dhaka Stock Exchange plunged nearly six percent on Sunday, triggering protests by more than 1,000 investors in the commercial centre of the Bangladeshi capital.

The benchmark DGEN plummeted 5.70 percent or 406.28 points to 6719.08, pulled down by slumps in major sectors such as banking, energy and insurance. The market also lost 2.51 percent on Thursday, the previous day of trading.

The DGEN has shed nearly 30 percent from a historic high of 8,918.51 on December 5, sparking regular violent street clashes between investors and police.

Local police chief Tofazzal Hossain said investors on Sunday blocked key roads leading to the capital's main business district, Motijheel, halting traffic for more than two hours.



Read more: http://www.google.com/hostednews/afp/article/ALeqM5jiyaB2PXnVvUq3mGQsaPbHDDdkSw?docId=CNG.6beee738f95660353832929856789453.571

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This market has grown more than 400% since 2007. Haven't they ever heard of "pump and dump"?

[Joanne98]

1. Bangladeshis protest over another big market fall

Angry investors took to the streets of the Bangladeshi capital on Sunday after the stock exchange suffered another dramatic fall, the latest of a series of collapses that forced halts in trading several times last month.

The benchmark Dhaka Stock Exchange index shed 5.7 percent on Sunday, the first working day of the week in the overwhelmingly Muslim country, following a 2.5 percent slide on Thursday.

Hundreds of disgruntled investors demonstrated and chanted slogans outside the stock exchange building, halting traffic for several hours in the financial district, witnesses said.

"I invested all my savings in the share markets, but have lost everything. Now I am a pauper," a sobbing small investor said.

http://www.reuters.com/article/2011/02/06/us-bangladesh-stocks-idUSTRE7150VL20110206

[WhiteTara]

2. this is the reason I never invested in the market

it is rigged, and it's not in my favor.