The Power of Perception

Sometimes I just feel ridiculous how perception can overpower substance so easily. Have you noticed?

KLCI surges 12.38 pts. The reason? Asian markets rallied, notching gains of between 1.75% and 2.49%, as investors’ sentiment was boosted by the strong close on Wall Street last week, ignoring the record high price of US$117 (RM367.61) earlier.

Light crude oil was trading at US$116.60, off the record high of US$117 while crude palm oil futures fell RM93 to RM3,460 per tonne. Malaysian tin price hit a new high of US$21,560 per tonne due to the record London Metal Exchange prices and firm demand.

Commodities are still at all time high. But the perception of the people changed. They feel more optimistic by Google's better than expected quarter earnings. It is as if that suddenly the US economy is going strong again, therefore Wall Street close strongly, Asian market all follow suit. This sudden optimism (or pessimism) can really make a hell of a difference.