‘Power people’ must avoid saying stupid things: Nazir

PETALING JAYA: A bloodbath in the local and global financial markets on Monday prompted prominent banker CIMB Group chairman Datuk Seri Nazir Razak to post a photo of a floored Wall Street Bull on his widely followed Instagram account yesterday.
The post was accompanied by a caption which read: “Dead or wounded? China will determine, but a new normal (of relative values) will prevail for most emerging markets.
“Accept & adjust quickly. Meanwhile, capital is super sensitive; bad news & bad signs amplified, so “power” people must avoid saying stupid things.”
The Wall Street Bull or the Bowling Green Bull which stands at Bowling Green Park in New York near Wall Street, is a symbol of financial optimism and prosperity.
It was created following the 1987 stock market crash by artist Arturo Di Modica to symbolise the strength and power of the American people.
Yesterday however, both the ringgit and the local stock markets staged rebounds, the ringgit was up 1.11% as at 5pm while the stock market closed 2.08% higher.
The ringgit stood at 4.196 to the dollar, while the FBM KLCI closed 31.8 points up to 1,563.94.
Meanwhile, Nazir’s brother embattled Prime Minister Datuk Seri Najib Razak announced yesterday that the government will set up a special economic committee to ensure the stability of the country’s economic growth momentum.
He said this was to counter the economic turbulence currently being experienced both domestically and globally.