Index

Number of Breaks

Break Date Detected

Reason

S & P 500

4

15-03-2000

04-06-2003

03-09-2008

14-12-2011

Internet bubble

Post-internet bubble bursting impact

Late 2000’s financial crisis

European debt crisis

FTSE 100

3

19-03-2003

17-10-2007

30-11-2011

Post-internet bubble bursting impact

Sub-prime crisis

European debt crisis

SZSEC

3

07-07-1999

15-11-2006

27-01-2010

Internet bubble

-

Bull rally after global financial crisis

FBMKLCI

3

18-08-1999

15-01-2003

22-07-2009

Internet bubble

Post-internet bubble bursting impact

Bull rally after global financial crisis